TLMUSDT is showing a potential trading opportunity based on a recent price action analysis. On the 1-hour timeframe, bullish divergence on the RSI indicates a potential reversal or continuation of the bullish momentum, suggesting a favorable setup for a long position.
Here's a potential trading plan based on this analysis:
Entry: Consider entering a long position at $0.01310.
Stop Loss (SL): Set the stop loss at $0.01184 to manage potential downside risk.
For take-profit (TP) levels, three options are available based on different risk-reward ratios:
TP 1:1: = $0.01436
TP 1:2: = $0.01562
TP 1:3: = $0.01688
This trade plan is designed to capitalize on the observed bullish divergence and potential trend reversal while prudently managing risk through the placement of a stop loss. As with any trading strategy, it's important to stay informed, monitor the trade closely, and be prepared to adjust your approach based on evolving market conditions
Here's a potential trading plan based on this analysis:
Entry: Consider entering a long position at $0.01310.
Stop Loss (SL): Set the stop loss at $0.01184 to manage potential downside risk.
For take-profit (TP) levels, three options are available based on different risk-reward ratios:
TP 1:1: = $0.01436
TP 1:2: = $0.01562
TP 1:3: = $0.01688
This trade plan is designed to capitalize on the observed bullish divergence and potential trend reversal while prudently managing risk through the placement of a stop loss. As with any trading strategy, it's important to stay informed, monitor the trade closely, and be prepared to adjust your approach based on evolving market conditions
Trade closed: stop reached
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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.