Current Situation:
IMX has experienced a sell-off this week but might be poised for a reversal. The current ENTRY box offers a favorable setup, incorporating multiple levels of confluence such as trend, 0.786 Fib, horizontal supports, and a reset Stochastic RSI on 12-hour and daily timeframes.
Trade Strategy:
Entry Point: Enter a long position within the $2.15 to $2.10 range.
Take Profit Targets:
First Target: $2.26
Second Target: $2.39
Third Target: $2.53
Stop Loss: Set a stop loss at a candle close under $2.09 to manage risk.
Risk Management:
Watch for weakness into the ENTRY box to reduce stop-loss risk.
Be mindful of leverage, as losses are amplified if the trade goes against you.
Alternative Long Zone:
If the current setup fails and IMX drops further, consider entering a long position in the $2.03 to $1.99 region.
Stay cautious and good luck with your trading! 📊📈
#Crypto #IMX #Trading #LongTrade #EntryPoint #TakeProfit #StopLoss #MarketAnalysis #Cryptocurrency #Blockchain
IMX has experienced a sell-off this week but might be poised for a reversal. The current ENTRY box offers a favorable setup, incorporating multiple levels of confluence such as trend, 0.786 Fib, horizontal supports, and a reset Stochastic RSI on 12-hour and daily timeframes.
Trade Strategy:
Entry Point: Enter a long position within the $2.15 to $2.10 range.
Take Profit Targets:
First Target: $2.26
Second Target: $2.39
Third Target: $2.53
Stop Loss: Set a stop loss at a candle close under $2.09 to manage risk.
Risk Management:
Watch for weakness into the ENTRY box to reduce stop-loss risk.
Be mindful of leverage, as losses are amplified if the trade goes against you.
Alternative Long Zone:
If the current setup fails and IMX drops further, consider entering a long position in the $2.03 to $1.99 region.
Stay cautious and good luck with your trading! 📊📈
#Crypto #IMX #Trading #LongTrade #EntryPoint #TakeProfit #StopLoss #MarketAnalysis #Cryptocurrency #Blockchain
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.