$INIT
Setup 1: BUY / LONG (Main Setup, But Be Patient)
Don't go long at the current price of 0,13303, because it's already touching the 4H Upper Bollinger Band and RSI is overbought.
Setup Level
Buy Entry 1 0,12600 - 0,12700 (4H Mid Bollinger Band, strongest support)
Buy Entry 2 (if it dumps again) 0,11736 - 0,11800 (24-hour low)
Stop Loss 0,11300 (below the previous dump low of 0,11307)
Take Profit 1 0,13635 (4H Upper Bollinger Band)
Take Profit 2 0,13905 (24-hour high)
Take Profit 3 0,15382 (1H Mid Bollinger Band, target if it breaks out)
Risk : Reward About 1 : 2,4 if entering at 0,12650
Condition: The buy is valid only if the 4H candle does not close below 0,12616. If it breaks below, cancel the setup.
Setup 2: SELL / SHORT (Short-Term Setup)
This setup makes more sense for today, because the price is already at the 4H peak.
Setup Level
Sell Entry 0,13600 - 0,13905 (4H Upper Bollinger Band + 24-hour high area, if rejection appears)
Stop Loss 0,14250 (above the 24-hour high)
Take Profit 1 0,12616 (4H Mid Bollinger Band)
Take Profit 2 0,11736 (24-hour low)
Risk : Reward About 1 : 2,3
Required condition: Don't short the market immediately. Wait for the 4H candle to fail to close above 0,13635 and for the 4H RSI to fall from 75 to below 65. If the price instead closes above 0,13905, cancel the short— that would mean a genuine breakout.
My plan:
SHORT scalp at 0,1360 - 0,1390 if there's rejection, SL 0,1425, TP 0,1261 / 0,1173
LONG only if price pulls back to 0,1260 - 0,1270, SL 0,1130, TP 0,1363 / 0,1390 / 0,1538
Don't FOMO into a long at the 4H peak. Those who chase the price here usually become exit liquidity.
Are you team Short at the Upper Bollinger Band or team wait for a Long at 0,126? Comment below. DYOR
#INIT #INITUSDT #Initia #Crypto
Setup 1: BUY / LONG (Main Setup, But Be Patient)
Don't go long at the current price of 0,13303, because it's already touching the 4H Upper Bollinger Band and RSI is overbought.
Setup Level
Buy Entry 1 0,12600 - 0,12700 (4H Mid Bollinger Band, strongest support)
Buy Entry 2 (if it dumps again) 0,11736 - 0,11800 (24-hour low)
Stop Loss 0,11300 (below the previous dump low of 0,11307)
Take Profit 1 0,13635 (4H Upper Bollinger Band)
Take Profit 2 0,13905 (24-hour high)
Take Profit 3 0,15382 (1H Mid Bollinger Band, target if it breaks out)
Risk : Reward About 1 : 2,4 if entering at 0,12650
Condition: The buy is valid only if the 4H candle does not close below 0,12616. If it breaks below, cancel the setup.
Setup 2: SELL / SHORT (Short-Term Setup)
This setup makes more sense for today, because the price is already at the 4H peak.
Setup Level
Sell Entry 0,13600 - 0,13905 (4H Upper Bollinger Band + 24-hour high area, if rejection appears)
Stop Loss 0,14250 (above the 24-hour high)
Take Profit 1 0,12616 (4H Mid Bollinger Band)
Take Profit 2 0,11736 (24-hour low)
Risk : Reward About 1 : 2,3
Required condition: Don't short the market immediately. Wait for the 4H candle to fail to close above 0,13635 and for the 4H RSI to fall from 75 to below 65. If the price instead closes above 0,13905, cancel the short— that would mean a genuine breakout.
My plan:
SHORT scalp at 0,1360 - 0,1390 if there's rejection, SL 0,1425, TP 0,1261 / 0,1173
LONG only if price pulls back to 0,1260 - 0,1270, SL 0,1130, TP 0,1363 / 0,1390 / 0,1538
Don't FOMO into a long at the 4H peak. Those who chase the price here usually become exit liquidity.
Are you team Short at the Upper Bollinger Band or team wait for a Long at 0,126? Comment below. DYOR
#INIT #INITUSDT #Initia #Crypto
