Who got
$RED ??? let's buy/sell it according to the buy/sell zones mentioned here.
*Market Analysis*
- *Current Price:* 0.7193
- *Market Sentiment:* Neutral/Bearish
*30-Minute Chart Analysis*
- *Trend:* Bearish, with a series of lower highs and lower lows
- *Momentum:* RSI (14) = 43.11, indicating bearish momentum
- *Volume:* Decreasing trading volume, indicating a potential reversal
*Yesterday's Chart Analysis*
- *Trend:* Bearish, with a strong sell-off in the afternoon
- *Momentum:* RSI (14) = 30.50, indicating oversold conditions
- *Volume:* High trading volume, indicating a potential trend reversal
*Key Levels*
- *Resistance:* 0.7400, 0.7600, 0.7800
- *Support:* 0.7000, 0.6800, 0.6600
*Trade Setup*
- *Short Entry Zone:* 0.7200 - 0.7400 (Sell on Strength)
- *Long Entry Zone:* 0.6800 - 0.7000 (Buy on Weakness)
- *Targets:*
- *Short Target 1:* 0.7000
- *Short Target 2:* 0.6800
- *Long Target 1:* 0.7400
- *Long Target 2:* 0.7600
- *Stop Loss:*
- *Short Stop Loss:* 0.7600
- *Long Stop Loss:* 0.6600
*Trade Strategy*
- *Short Position:* Sell on strength in the short entry zone, targeting lower levels.
- *Long Position:* Buy on weakness in the long entry zone, targeting higher levels.
- *Position Sizing:* Manage position size to limit potential losses to 2-3% of the trading
*Trade Plan Scenarios*
- *Bearish Scenario:* RED/USDT breaks below 0.6600, targeting 0.6400 and lower.
- *Bullish Scenario:* RED/USDT breaks above 0.7800, targeting 0.8000 and higher.
*Trade Plan Exit Strategies*
- *Take Profit:* Exit the trade when Target 2 is reached.
- *Stop Loss:* Exit the trade if the price breaks below the stop-loss level.
- *Trailing Stop:* Consider setting a trailing stop to lock in profits as the trade moves in your favor
*Entry Points*
- *Short Entry:* Enter a short position when the price reaches 0.7200 - 0.7400, with a stop-loss at 0.7600.
- *Long Entry:* Enter a long position when the price reaches 0.6800 - 0.7000, with a stop-loss at 0.6600.
Click here
$RED or click on the chart to trade.
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#RED