$INJ
Setup: Long | Position Entry: 7.945 | Risk Level: 7.585 | Take Profit 1: 8.665
INJ is dipping into a juicy area after a recent shakeout.
The chart is in a bearish trend, but price is currently trading in the discount zone of the dealing range, which favors longs. A recent change of character two candles ago broke a key level to the downside, suggesting a potential reversal of the prior bullish structure. Price has now pulled back into a major bullish order block that has already been tested and held. Furthermore, a sell-side liquidity sweep occurred three candles ago, which often precedes a reversal. The nearest open buy-side liquidity sits at the recent swing high, providing a clear target for a move back into the premium zone. The stop can be placed just below the low of the order block zone.
If the order block fails, we'll step aside and reassess.
#CryptoTrading #Futures #INJ
Setup: Long | Position Entry: 7.945 | Risk Level: 7.585 | Take Profit 1: 8.665
INJ is dipping into a juicy area after a recent shakeout.
The chart is in a bearish trend, but price is currently trading in the discount zone of the dealing range, which favors longs. A recent change of character two candles ago broke a key level to the downside, suggesting a potential reversal of the prior bullish structure. Price has now pulled back into a major bullish order block that has already been tested and held. Furthermore, a sell-side liquidity sweep occurred three candles ago, which often precedes a reversal. The nearest open buy-side liquidity sits at the recent swing high, providing a clear target for a move back into the premium zone. The stop can be placed just below the low of the order block zone.
If the order block fails, we'll step aside and reassess.
#CryptoTrading #Futures #INJ