TRENT: Short Trade Thrives

17 thg 11, 2024

The 4-hour chart of TRENT showcases a well-executed short trade setup using the Risological swing trader. With TP1 and TP2 targets already hit, the momentum hints at further downside movement towards TP3 and TP4.

Trade Highlights:
Entry Price: ₹7605.35
Stop Loss: ₹7975.20

Targets:

• TP1: ₹7148.25 ✅
  
• TP2: ₹6408.65 ✅
  
• TP3: ₹5669.00 (potential) 🔄
  
• TP4: ₹5211.90 (final target) 🔄
  

Technical Breakdown:

Risological trend line: A steeply falling Risological red trend line validates a persistent bearish trend.

• Candlestick Formation: Consistent lower highs signal sustained seller dominance.
  
• Volume Dynamics: Elevated volumes on red candles affirm selling pressure.
  

Strategic Recommendations:

• Current Traders: Trail stop loss to secure profits and ride the trend toward TP3 and TP4.
  
• Potential Entries: Watch for minor pullbacks toward TP2 for fresh short positions.
  

TRENT’s bearish momentum is far from over. Will TP3 and TP4 seal the deal? Stay tuned! 📉