In September 2022, MDXUSDT reached a significant bottom after a potential 5-wave leg. Since then, the price has been trying to rally back up. We expect a correction pattern (ABC) to follow, with the final target pointing towards our major supply zone.
Keep an eye on immediate supply and demand zones and consider accumulation within the immediate demand zone and towards important support levels.
Set stop-loss orders to be below the important support zone to protect your positions. Aim for the major supply zone as the final target, but remain vigilant for any signs of trend reversal or weakness in bullish momentum.
As with any trading strategy, ensure proper risk management by using stop-loss orders and only risking a small percentage of your trading capital on each trade.
Trade active
⋅
Trade active
⋅
MDX is consolidating near a key support zone, indicating a potential accumulation phase that could precede a significant bullish breakout. Seize this opportunity to accumulate positions. Refer to the chart for the specified target. Enjoy guys