Entry Price: Around 0.003502 USDT, which is aligned with a previous support/resistance level (yellow line).
Stop-Loss (SL): Set at 0.003606 USDT, indicating a small risk buffer above the entry price.
Take-Profit (TP): Positioned at 0.003208 USDT, which provides a favorable risk-to-reward ratio.
Trade Rationale:
Retest of Resistance: Price appears to have broken below a key support level and is now retesting it as resistance before continuing downward.
Bearish Momentum: The recent sharp drop suggests increased selling pressure, and the rejection at resistance supports further downside potential.
Risk-to-Reward Ratio: The setup shows a well-calculated SL and TP, ensuring a good risk management strategy.
Potential Outcome:
If price rejects the resistance level, the trade could move towards the take-profit target.
If price breaks above the stop-loss level, it would invalidate the trade, suggesting bullish continuation instead.
Let me know if you need any refinements or further analysis! 🚀
Stop-Loss (SL): Set at 0.003606 USDT, indicating a small risk buffer above the entry price.
Take-Profit (TP): Positioned at 0.003208 USDT, which provides a favorable risk-to-reward ratio.
Trade Rationale:
Retest of Resistance: Price appears to have broken below a key support level and is now retesting it as resistance before continuing downward.
Bearish Momentum: The recent sharp drop suggests increased selling pressure, and the rejection at resistance supports further downside potential.
Risk-to-Reward Ratio: The setup shows a well-calculated SL and TP, ensuring a good risk management strategy.
Potential Outcome:
If price rejects the resistance level, the trade could move towards the take-profit target.
If price breaks above the stop-loss level, it would invalidate the trade, suggesting bullish continuation instead.
Let me know if you need any refinements or further analysis! 🚀
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.