INJUSDT at daily support, likely to head to 6.99-7.06

4 set 2023

Here is a long trade idea for INJUSDT. The price is currently trading around daily support. I think the price is likely to move towards the 4h resistance 4HR1 sitting around 6.99-7.06. It is also possible that the pullback from the push upward towards the daily resistance DR1 is almost over and we may see further move up beyond that resistance. But let us stick to this long trade and target 4HR1 zone as the target of this trade.

9 set 2023

Trade chiuso: obiettivo raggiunto

The price reached the target finally. The 4.3 % of profit target took 4 days to complete. That is how slow the market is right now. Anyways, as per the expectation, the price headed towards 4h resistance 4HR1 and finally hit that before making several pullbacks to the daily support DS1. This allowed several partial profit taking and adding of position again on the support zone. However, did not update those moves here as I was not active on big screen. Once the price reached 4h resistance 4HR1, it was rejected from there and started to move down. It is currently trading below the daily support DS1 which is not a good sign. We shall evaluate again to see where it is headed. A risk is there of the price heading towards weekly support WS1 sitting around 5.5-5.7. But lets look at the possible scenario in a separate post.