This chart indicates a potential short trade opportunity, where the price is approaching a key resistance zone. The current market scenario suggests a possible reversal or downward movement, especially if the price reacts to the sell zone ($107,495) and begins to decline.
Trade Parameters:
Sell Zone: $107,495
Stop Loss: $110,438 (Placed slightly above the resistance zone to account for any unexpected breakout)
Take Profit Targets:
1. Take Profit 1: $105,224 (Initial support level)
2. Take Profit 2: $102,465 (Second key support level for further downward movement)
3. Take Profit 3: $99,099 (Final target level)
Target Zone: $98,723 (A critical area for further downside potential)
Technical Analysis:
The price is currently in a strong resistance area where sellers have previously taken control.
A break below the sell zone could lead to a move towards the indicated targets.
RSI and other technical indicators suggest the market is approaching overbought conditions, increasing the likelihood of a downward move.
Risk and Reward Ratio:
This setup offers a balanced risk-reward ratio. Ensure the stop loss is strictly adhered to in order to protect against any unexpected movements.
Trade Parameters:
Sell Zone: $107,495
Stop Loss: $110,438 (Placed slightly above the resistance zone to account for any unexpected breakout)
Take Profit Targets:
1. Take Profit 1: $105,224 (Initial support level)
2. Take Profit 2: $102,465 (Second key support level for further downward movement)
3. Take Profit 3: $99,099 (Final target level)
Target Zone: $98,723 (A critical area for further downside potential)
Technical Analysis:
The price is currently in a strong resistance area where sellers have previously taken control.
A break below the sell zone could lead to a move towards the indicated targets.
RSI and other technical indicators suggest the market is approaching overbought conditions, increasing the likelihood of a downward move.
Risk and Reward Ratio:
This setup offers a balanced risk-reward ratio. Ensure the stop loss is strictly adhered to in order to protect against any unexpected movements.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.