$THE ๐ค๐ค๐ค๐ค๐ฐ๐ฐ๐ฐ
Trade Signal: SHORT
Entry Zone: $0.2775 โ $0.2730
Stop Loss (SL): $0.3019 (above recent swing high)
Take Profit (TP) Targets:
ยท TP1: $0.2542
ยท TP2: $0.2248
ยท TP3: $0.2055
THEUSDT
Perp
0.2735
-0.47%
Rationale for Short Signal:
1. Price Rejection at Resistance:
ยท Price recently reached a high near 0.2772 (24h high) and is now at 0.2693, showing signs of rejection.
ยท The chart shows a clear resistance zone between 0.2775โ0.2963.
2. Stochastic Oscillator Overbought:
ยท K: 45.9582, D: 37.6078, J: 62.6591
ยท The J-line is above 60, indicating overbought conditions, which supports a potential pullback.
3. Lower High Formation (Potential):
ยท If price fails to break above 0.2775, a lower high could form, confirming bearish momentum.
4. Volume Data:
ยท 24h volume in USDT is 2.73M, which is moderate. A drop in volume on upward moves could indicate weakening bullish interest.
Risk Management:
ยท Risk/Reward Ratio: Minimum 1:2 achievable if targeting TP1.
ยท Position Size: Recommend 1โ3% of capital.
ยท Confirmation: Wait for a bearish candle close below 0.2693 before entering.๐
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