Your $TRUMP rebound alert outlines a technically sound short-term trade setup. Here's a concise analysis and a few things to consider for refining your plan:
š Trade Summary:
Ticker: $TRUMP
Current Price: $8.89
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Support: Found near $8.34
Resistance Levels / Targets:
$8.95 (minor)
$9.08 (psychological + potential prior top)
$9.20 (breakout confirmation zone)
Entry Zone: $8.80ā$8.90
Stop Loss: Below $8.45 (solid technical buffer)
š Trade Logic:
The bounce off $8.34 support suggests buyers are stepping in.
Reclaiming and holding $8.50+ with volume can signal the beginning of a stronger upward trend.
The risk/reward ratio is favorable if entering in the defined zone and targeting the upper resistance levels.
ā ļø What to Watch:
Volume Confirmation: Rising volume on green candles is key for confirming strength.
Market Conditions: If overall market sentiment turns bearish, $TRUMP might struggle even with good setup.
Breakout or Fakeout?: Watch how price behaves around $9.08ā$9.20. That zone may attract sellers or trigger breakout buyers.
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Trade Management Tips:
Consider scaling out profits at each target to lock in gains.
Use a trailing stop above breakeven if price moves favorably toward $9.08+.
Watch RSI or MACD for divergence if price stalls ā it could signal loss of momentum.
Would you like a chart analysis or a real-time look at the order book and volume for more confirmation?
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