We've decided to enter a trade on #INJ/USDT after observing several compelling technical signals that indicate a potential breakout. Here’s a detailed explanation of our decision:
1. Descending Channel Breakout: After a prolonged downtrend confined within a descending channel, INJ has recently broken above the upper trendline of this channel. This breakout suggests a reversal in the trend and the start of a bullish phase.
2. Volume Confirmation: The breakout is accompanied by an increase in trading volume, which adds validity to the move. Higher volume during a breakout is a strong indicator that the new trend could sustain.
3. Bullish Candlestick Pattern: The chart shows a series of bullish candlesticks forming right after the breakout, reinforcing the bullish sentiment.
4. RSI Signal: The Relative Strength Index (RSI) is trending upwards but is not yet in the overbought territory. This suggests that there is still room for further price appreciation.
5. Risk-Reward Ratio: Our entry point at $28.05 is well-positioned, with a stop loss set at $26.53 to manage downside risk. The target price is $40.04, providing an attractive risk-reward ratio for this trade.
In conclusion, the technical indicators and the positive breakout pattern present a promising opportunity in INJ. With a well-defined risk management strategy, this trade aligns with our overall trading plan. Let's see how this plays out!
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⚠️All trade ideas are published with a time delay. If you want to follow the trade in real time, please follow the link to our open copy trading account on Binance.
👉Our account with open trading, and all our other resources at this link:
linktr. ee/In_Trade_MLN
1. Descending Channel Breakout: After a prolonged downtrend confined within a descending channel, INJ has recently broken above the upper trendline of this channel. This breakout suggests a reversal in the trend and the start of a bullish phase.
2. Volume Confirmation: The breakout is accompanied by an increase in trading volume, which adds validity to the move. Higher volume during a breakout is a strong indicator that the new trend could sustain.
3. Bullish Candlestick Pattern: The chart shows a series of bullish candlesticks forming right after the breakout, reinforcing the bullish sentiment.
4. RSI Signal: The Relative Strength Index (RSI) is trending upwards but is not yet in the overbought territory. This suggests that there is still room for further price appreciation.
5. Risk-Reward Ratio: Our entry point at $28.05 is well-positioned, with a stop loss set at $26.53 to manage downside risk. The target price is $40.04, providing an attractive risk-reward ratio for this trade.
In conclusion, the technical indicators and the positive breakout pattern present a promising opportunity in INJ. With a well-defined risk management strategy, this trade aligns with our overall trading plan. Let's see how this plays out!
___
⚠️All trade ideas are published with a time delay. If you want to follow the trade in real time, please follow the link to our open copy trading account on Binance.
👉Our account with open trading, and all our other resources at this link:
linktr. ee/In_Trade_MLN
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.