PNUT 1 Hour
Short-term Resistance 0.72
Key Support 0.59
There are signs of an M-top formation, but this is just an expectation and should not be used as a reason to enter a trade.
For those with long positions at lower levels, it is advisable to partially exit, set the remaining position at break-even stop loss, and continue to hold.
If you do not have long positions at lower levels, it is best to wait for a breakout, then enter long positions on a small pullback.
If choosing to enter short positions on the left side, the stop loss should be set at 0.725.
If a breakout occurs, a stop loss is required, regardless of whether it is a genuine or false breakout; it is considered the formation of a new bullish trend.
