$TRX/USDT: Short Opportunity with a Clear Plan!
Market Overview:
TRX is exhibiting strong bearish momentum, with a 7.38% drop over the past 24 hours. The price action indicates further downside potential after a weak recovery from the 24-hour low of $0.2464.
Entry Strategy:
Open a short position at $0.2490, the current consolidation zone.
Take-Profit Targets:
1. TP1: $0.2460 (near the 24-hour low for a conservative target).
2. TP2: $0.2400 (a significant support level).
Stop-Loss:
Set a stop-loss at $0.2530, just above the recent resistance.
Risk/Reward Ratio:
Targeting a 1:3 risk/reward ratio to ensure favorable trade potential.
Key Notes:
Stay cautious of volume surges or sudden trend reversals, as TRX has a history of high volatility.
Monitor closely, adhere to the strategy, and adjust as needed based on market momentum.
Trade responsibly!