$TROY is currently forming an ascending triangle pattern on the daily timeframe. This pattern is often a signal for a potential breakout when the price moves above the resistance level.
Key Points:
Price Consolidation: Troy's price is consolidating near the resistance zone, which indicates a buildup of buying pressure.
Breakout Potential: A breakout above the resistance level could trigger an upward movement, taking the price towards higher targets.
Next Steps:
Buy Zone: Consider entering the trade around $0.00720 – $0.00750 if the price stays above the support level.
Targets: If the breakout is confirmed, expect the price to move towards:
First Target: $0.00855
Second Target: $0.01150
Stop Loss: To minimize risk, set your stop loss around $0.00660 below the support zone.
Strategy Summary:
Enter: Buy at the support zone or on confirmation of the breakout above resistance.
Targets: $0.00855 and $0.01150.
Stop Loss: $0.00660 to protect your position.
Always ensure proper risk management and never invest more than you can afford to lose.
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