$TAO | Trade Plan
This is how I’m handling the trade from here.
We bought the breakout at $300 and rode it roughly 25% into $375 in 24 hours, where we skimmed profit into the major overhead supply zone I had marked out before entry.
Now price is retesting the breakout area, and this is where the trade either proves itself or starts to lose credibility.
Earlier in the week, I said the main thing I wanted to see was volume expand off support, and that is exactly what we got.
What I do not love is that price has now given back the entire move and returned to support with relatively little sell pressure. That is a warning to me. It tells me the breakout created impulse, but not enough follow-through to hold higher and separate cleanly from the level.
So my plan here is simple: I hold unless support breaks.
At this point, after already securing profits, the remainder is effectively being managed around breakeven.
If price does push again, I will skim more into the $330 region. That is the local overhead resistance, and price has already failed to hold above it twice.
I am also watching the 4H 12EMA (blue) closely. It has rejected every rally so far, so bulls still need to reclaim that if they want to regain short-term control.
On the other hand, the 1D 12EMA I mentioned last week is still holding as support underneath, which adds higher timeframe confluence to this zone.
So for me, the plan is:
hold while support holds, respect $330 as local overhead supply, and if horizontal support and the daily 12EMA are both lost, I have no reason to stay patient.
TRADE $TAO HERE 👇
TAOUSDT
دائم
306.48
+1.34%