The following trade on Mactic MATUSDT was a bit of a gambling trade but it was entered to take quick profits. We had strength entering the market, which was apparently clear and we were taking a short trade during accumulation by the professional traders.
Above we have the 1-hour chart of MATUSDT and you can clearly see strength entering the market at point A. Price action was now in accumulation hence the sideways movement. I decided to take the trade when we had trend alignment in most time frames. The trade setup was on the 30-minute chart.
MATUSDT Trade Outcome
We see that the pricing action had a decent down move and then was retracing. We were provided with a no-demand signal at the end of the retracement. The no-demand signal was confirmed and we entered the trade. The best-case scenario was for the pricing action to reach our possible target area. There was no weakness for the price to reach that far down and the price was supported at the area of strength.
Trade Outcome
Price Entry: $1.2298
Price Exit: $1.2257
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Once trend alignment is identified – especially in larger time frames – then you can begin to look for trading opportunities
Check out other trades that we have taken in cryptos and forex
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