$ACX /USDT: Potential Reversal Trade
1. Entry Point: $0.6000 (confirmation above resistance)
2. Take Profit Targets:
TP1: $0.6200
TP2: $0.6400
TP3: $0.6500
3. Stop Loss: $0.5800
4. Technical Insight: The price is attempting a recovery after forming a double bottom near $0.5550. A breakout above $0.6000 will signal a bullish continuation.
5. Risk-Reward Ratio: Favorable 1:3 setup, ensuring minimal risk with strong profit potential.
6. Trend Outlook: Reversal trend likely to strengthen if resistance levels break with volume support.
7. Volume Confirmation: Look for increased buying activity to confirm the breakout.
8. Trailing Stop Suggestion: Adjust the stop loss to $0.6000 once TP1 is reached to secure risk-free profits.
9. Timeframe: Suitable for intraday to short-term swing trading strategies.
10. Reminder: Always manage risk effectively and lock profits at every target.