Long
OAXUSDT - BULLISH OUTLOOK
OAXUSDT is presenting a promising technical setup based on a recent price action analysis. On the 1-hour timeframe, bullish divergence on the RSI suggests a potential shift in momentum favoring the bulls. Concurrently, on the 4-hour timeframe, OAXUSDT is observed to be in a bullish trend, marked by a series of higher highs and higher lows.
Here's a potential trading opportunity based on this analysis:
Entry: Consider entering a long position at $0.1950.
Stop Loss (SL): Set the stop loss at $0.1665 to manage potential downside risk.
For take-profit (TP) levels, three options are available based on different risk-reward ratios:
TP 1:1: = $0.2235
TP 1:2: = $0.2520
TP 1:3: = $0.2805
This trade plan is designed to capitalize on the observed bullish trend and the recent RSI divergence while prudently managing risk through the placement of a stop loss. As always, it's essential to stay informed, monitor the trade closely, and be prepared to adjust your approach based on evolving market conditions
Here's a potential trading opportunity based on this analysis:
Entry: Consider entering a long position at $0.1950.
Stop Loss (SL): Set the stop loss at $0.1665 to manage potential downside risk.
For take-profit (TP) levels, three options are available based on different risk-reward ratios:
TP 1:1: = $0.2235
TP 1:2: = $0.2520
TP 1:3: = $0.2805
This trade plan is designed to capitalize on the observed bullish trend and the recent RSI divergence while prudently managing risk through the placement of a stop loss. As always, it's essential to stay informed, monitor the trade closely, and be prepared to adjust your approach based on evolving market conditions
Trade active
TP 1 HIT 🎯
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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.
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.