TRON: When to Buy in Bullish Market
Another long trade gives us a profit. I wrote about a possible buying opportunity in this post. The price bounced from the support and broke the local swing high. It gave us a buy signal in the 4H timeframe.
The price does not reach the profit target, but we have an opportunity to fix the part of the profit and move stop orders to the breakeven.
What's next? If you missed the previous trade opportunity, chasing the upward movement is not a good idea. The price is not far from a resistance zone and we can get a pullback. If buyers can break this zone, of course, we can use the breakout signal for buying. But this trade won't be correct if we talk about proper trading. Our stop size will be huge, and we won't have enough space for the upward movement. The next profit target will be at 0.02200 resistance.
From my point of view, the best entry zone is between SMA50 and the main uptrend line. Reversal signals from this zone will be able to give interesting long trades in the daily and hourly timeframes. The market is in the uptrend, and buying after a correction movement is the basis of trading in trend market conditions.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price does not reach the profit target, but we have an opportunity to fix the part of the profit and move stop orders to the breakeven.
What's next? If you missed the previous trade opportunity, chasing the upward movement is not a good idea. The price is not far from a resistance zone and we can get a pullback. If buyers can break this zone, of course, we can use the breakout signal for buying. But this trade won't be correct if we talk about proper trading. Our stop size will be huge, and we won't have enough space for the upward movement. The next profit target will be at 0.02200 resistance.
From my point of view, the best entry zone is between SMA50 and the main uptrend line. Reversal signals from this zone will be able to give interesting long trades in the daily and hourly timeframes. The market is in the uptrend, and buying after a correction movement is the basis of trading in trend market conditions.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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