COSUSDT is currently displaying a bullish divergence on the 1-hour (1H) time frame, accompanied by a breakout above the last lower high. This pattern suggests a potential reversal and the initiation of a bullish trend.
Here's a brief technical analysis along with a suggested trading strategy:
Entry: Consider entering a long position at the current market price (CMP) of 0.00810.
Stop Loss (SL): Implement a stop loss order at 0.00775 to effectively manage risk.
Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio:
TP1 = 0.00845
TP2 = 0.00880
This trading strategy aims to capitalize on the anticipated bullish trend. Keep a close watch on the market for any changes in price action and be prepared to adjust the strategy accordingly.
Here's a brief technical analysis along with a suggested trading strategy:
Entry: Consider entering a long position at the current market price (CMP) of 0.00810.
Stop Loss (SL): Implement a stop loss order at 0.00775 to effectively manage risk.
Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio:
TP1 = 0.00845
TP2 = 0.00880
This trading strategy aims to capitalize on the anticipated bullish trend. Keep a close watch on the market for any changes in price action and be prepared to adjust the strategy accordingly.
Trade closed: stop reached