ORDIUSDT is exhibiting a bullish divergence on the 4-hour timeframe, suggesting a potential reversal in the prevailing downtrend. Furthermore, the price has successfully breached its lower high level and established a higher high, indicating a strengthening bullish momentum.
Based on this analysis, a trading strategy can be outlined as follows:
Entry: Consider entering a long position at the current market price of $63.50.
Stop Loss (SL): Place a stop loss order at $54.98 to manage risk and mitigate potential losses.
Take Profit (TP): Set take-profit levels to achieve a 1:1, 1:2, 1:3, and 1:4 risk-reward ratio:
TP1: Set the first take-profit level at $72.02
TP2: Aim for the second take-profit level at $80.54
TP3: Target the third take-profit level at $89.06
TP4: Set the fourth take-profit level at $97.58
This trading strategy anticipates a bullish reversal based on the identified bullish divergence and the breakout above the lower high level. However, it's essential to monitor the market closely and adjust the strategy as necessary in response to changing conditions.
Based on this analysis, a trading strategy can be outlined as follows:
Entry: Consider entering a long position at the current market price of $63.50.
Stop Loss (SL): Place a stop loss order at $54.98 to manage risk and mitigate potential losses.
Take Profit (TP): Set take-profit levels to achieve a 1:1, 1:2, 1:3, and 1:4 risk-reward ratio:
TP1: Set the first take-profit level at $72.02
TP2: Aim for the second take-profit level at $80.54
TP3: Target the third take-profit level at $89.06
TP4: Set the fourth take-profit level at $97.58
This trading strategy anticipates a bullish reversal based on the identified bullish divergence and the breakout above the lower high level. However, it's essential to monitor the market closely and adjust the strategy as necessary in response to changing conditions.
Trade active
TP 1 HIT achieved 14% In Spot
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.