INJUSDT a short and a long idea

6 Okt 2023

Here is a pair of trade ideas for INJUSDT. One is a short and then a long trade. The price action suggests to trade only in the long direction on any pullback. However, a short here from the daily resistance is not a bad idea. But the size should be kept smaller to keep the risk lower given the momentum in the opposite direction. If the desired pullback is there expected in the short trade, the price shall find support at 4h support 4HS1 and that should make the price reverse its path and again move upward. This will create a conducive environment for a long trade opportunity again towards the daily resistance. Though the price may break the daily resistance on the next attempt with that long trade idea, but we will reassess it again and adjust the target once we are in that trade and the price is moving according to our expectation.

9 Okt 2023

Catatan

The first trade which is a short trade is now completed. The price has hit the 4h support zone 4HS1 and now bouncing from there. Although it took a bit of more time than expected for the price to reach to the 4HS1 zone but it finally did without breaching the daily resistance DR1. With that, the second trade has come into action and this one is a long trade. I believe this support will give the necessary bounce for making a long trade profitable. The target is the daily resistance DR1, but we should keep an eye regarding the price action for both direction and adjust our targets accrodingly. As I said before, it is possible that the price may break daily resistance on the next attempt.