2026-01-28 12:22:10

📈 Technical Analysis: Compound ( $COMP )

Market capitalization: $789M.
COMP has been moving within a sideways channel for quite some time, providing opportunities for short-term trades.

How to trade❔

Trading within the channel:
💬 When a reversal candlestick pattern forms near support, open a buy position. Stop-loss beyond the channel boundary. Profit target before the resistance level. Risk/reward ratio should be at least 1.5:1.

💬 On a bounce from resistance, open a sell position. Stop beyond the channel boundary. Target is support. These trades can be repeated while the price remains in the channel.

Trading on breakout:
💬 When one of the boundaries breaks, open a position in the breakout direction. Place stop behind the nearest extreme.

💬 Profit target is the next level in the movement direction. Risk/reward ratio should be above 2:1.

Conclusion:
COMP provides opportunities for short-term speculation within the channel. The key is discipline and adherence to stop-losses.

📈 Open a trade with $COMP ‌🔗 Chat • X • JioCoinsX

COMP1,61%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.