INJUSDT short idea
Updated
The price has broken down the daily support and moved downward. The daily support acted as a support for a while and provided a couple of bounces with the second bounce being smaller than the current one. This was an early sign for the breakdown but we were not observant enough to notice that. However, both were good for quick long trade although not upto the target. Now since, it has broken the daily support, I expect it to head towards the next daily support which is marked at DS1 around 6.96-7.15. The price still has chance to come back up to the broken daily support level but I consider it as a gone case if 4h candle already closes below as that reduces the probability drastically of the price claiming the support back. Therefore, I think from probabbility perspective, the price is likely to visit DS1 daily support insinuating short trades being favorable on bounces.
This is a short trade idea. The price has broken is likely to retrace down to daily support DS1. The price still may bounce towards 4h resistance and allows to add some size there.
This is a short trade idea. The price has broken is likely to retrace down to daily support DS1. The price still may bounce towards 4h resistance and allows to add some size there.
Trade closed manually
Booked some profit and closing the trade for now. Will see if I add again on the retest of that resistance zone. I would have expected a quicker move down for this trade but its taking much longer. Dont want to keep short trade open for very long period. Will reassess and look for the new setup.
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