$TAO 1H Outlook.
Looking at the chart, TAO appears likely to move lower again. I've identified a resistance zone above, where several candles have faced rejection. The price has already formed an upper wick and moved back down.
If the next candle closes with a strong bearish move, you can look for a sell opportunity. However, if we don't get proper confirmation, there's no need to enter.
The overall market structure remains bearish.
My Trading Plan (If Confirmation Comes):
Entry: 223.27 – 221.00
Targets: I'll aim for the lower support zone, with my final target at $211.70.
I won't take partial profits in this setup. Instead, I'll gradually trail my Stop Loss as the market moves in my favor, allowing me to secure more profit along the way.
Stop Loss: 228.00
For now, let's wait and see if we get the required confirmation before taking an entry.
Looking at the chart, TAO appears likely to move lower again. I've identified a resistance zone above, where several candles have faced rejection. The price has already formed an upper wick and moved back down.
If the next candle closes with a strong bearish move, you can look for a sell opportunity. However, if we don't get proper confirmation, there's no need to enter.
The overall market structure remains bearish.
My Trading Plan (If Confirmation Comes):
Entry: 223.27 – 221.00
Targets: I'll aim for the lower support zone, with my final target at $211.70.
I won't take partial profits in this setup. Instead, I'll gradually trail my Stop Loss as the market moves in my favor, allowing me to secure more profit along the way.
Stop Loss: 228.00
For now, let's wait and see if we get the required confirmation before taking an entry.
