INJUSDT at hourly resistance, expecting a pullback to 7.35-7.36

Oct 9, 2023

The price fell down below the 4h support but bounced strongly from 7.27 zone. Now the price is at hourly resistance and I expect a pullback here. This pullback may extend till 7.35-7.36 area. Therefore, a short trade is favorable here with a target to 7.35-7.36.

Oct 10, 2023

Note

The price has not reached to the target but did move down towards the target. Ideal would have been to close half the size on corssing half the profit target. But now the stop should be moved to breakeven price.

Oct 10, 2023

Trade closed: target reached

The price has hit the target. Currently it is trading below the target and likely to go further down. We will see how low it can go before a bounce in the next post.