And here is the long trade for INJUSDT. The price broke upward and from the daily resistance zone DR1 and has come back to retest it. I think this level will now provide the support and therefore a long is favorable here.
Note
Went heavy on this one as kept the stop loss very small. Now it has moved around 1% so offload some size here. And rest stop loss on break even.Note
So indeed the price retraced from 7.76 level and now heading towards the entry zone. I will add one thrid size which I offloaded here. The trade will close in handsome profit even if it goes southward from here.Note
Half size offloaded on the red zone marked on the chart around 7.85.Note
Added that half offloaded at red zone around 7.85, now added at 7.76.Trade closed: target reached
So the price hit the target according to the plan and it kind of followed the time structure as well. It went a bit beyond the target and got rejected and fell back again towards the daily resistance which the price had broken and now that broken resistance acting like a support. The price is showing some bounce from there. Lets look for a new setup on this one in a separate post.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.