KDAUSDT is currently exhibiting a bullish divergence on the 1-hour (1H) time frame, signaling a potential reversal in the ongoing trend. Furthermore, the price has successfully broken above the last lower high, indicating the initiation of a bullish trend. Notably, the market is now forming higher highs and higher lows, supporting the notion of a bullish continuation.
Here's a concise technical analysis along with a suggested trading strategy:
Entry: Consider entering a long position at the current market price (CMP) of 1.118.
Stop Loss (SL): Implement a stop loss order at 1.025 to effectively manage risk.
Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio:
TP1 = 1.211
TP2 = 1.304
This trading strategy aims to capitalize on the anticipated bullish trend continuation. However, it's important to monitor the market closely for any changes in price action and be prepared to adjust the strategy accordingly.
Here's a concise technical analysis along with a suggested trading strategy:
Entry: Consider entering a long position at the current market price (CMP) of 1.118.
Stop Loss (SL): Implement a stop loss order at 1.025 to effectively manage risk.
Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio:
TP1 = 1.211
TP2 = 1.304
This trading strategy aims to capitalize on the anticipated bullish trend continuation. However, it's important to monitor the market closely for any changes in price action and be prepared to adjust the strategy accordingly.
Trade closed: stop reached