$CVX /USDT Trade Setup - Potential Short Opportunity Ahead! 🔥📉
The market presents an intriguing opportunity for a short position in
$CVX /USDT, as it continues to show bearish momentum. A consistent pattern of lower highs and lower lows on the 30-minute chart signals that further downside could be in store.
Trade Details:
Entry Point: Consider entering a short position at $5.35 for the best risk-reward setup.
Target 1 (TP1): $5.20, aiming to capture profits near key support levels.
Target 2 (TP2): $5.05, extending the trade if the bearish trend persists.
Stop-Loss (SL): Place your stop slightly above recent resistance at $5.45 to minimize risk.
Indicators Confirming the Setup:
Price action is struggling below the EMA, and the RSI shows signs of continued downward pressure.
Watch for an increase in selling volume, which will further confirm the bearish outlook.
Maintain a risk-reward ratio of at least 1:2 for a favorable trade execution.
Timeframe: Execute within the next 6–12 hours to take advantage of optimal conditions.
Pro Tip: After reaching TP1, consider trailing your stop to lock in profits while staying in the trend.
Stay disciplined, follow your strategy, and execute this setup with precision for the best chance at success!
Current Price: $5.336 | 24-Hour Change: -4.51%
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