📈 Trade Setup Analysis (SKL/USDT – 1D, Binance)
Pattern / Price Action:
The chart shows a strong bullish daily candle closing at 0.03404 (+10.20%), breaking significantly above the key MA 25 (0.02620) and MA 99 (0.02240). The price moved from a low of 0.02922 to a high of 0.03584, indicating a powerful surge and rejection of lower prices. Although the price is still slightly below the MA 7 (0.03530), the strong close suggests momentum is building to challenge it. The high volume (536M SMA) confirms substantial interest in this move.
🎯 Suggested Trade Plan
Entry Zone: Around 0.03400 USDT (current market level).
Stop-Loss (SL): Set at 0.02900 USDT (below the day's low and key support).
Target Levels (TP):
TP1: 0.03580 USDT (near the day's high and MA 7)
TP2: 0.04000 USDT (psychological resistance)
TP3: 0.04500 USDT (extended target)
⚖️ Risk-to-Reward Ratio (RRR)
Entry: 0.03400
Stop-Loss: 0.02900 → risk = 0.00500
TP1 (0.03580): reward = 0.00180 → RRR ≈ 0.36 : 1
TP2 (0.04000): reward = 0.00600 → RRR ≈ 1.20 : 1
TP3 (0.04500): reward = 0.01100 → RRR ≈ 2.20 : 1
📊 Probability of Success
Bullish Factors: Strong bullish candle with high volume, break above key MAs (25, 99), strong momentum.
Risks: Price is nearing the MA 7 which may act as immediate resistance; the large wick to 0.03584 shows some selling pressure at higher levels.
👉 Estimated Probability: 60% chance of hitting TP1. ~45% chance of reaching TP2. ~30% for TP3.
✅ Summary:
This is a bullish momentum trade following a strong breakout. Suggested stop-loss at 0.02900, with targets at 0.03580 → 0.04000 → 0.04500. The trade offers a poor R:R for TP1, so aiming for TP2 or TP3 is essential for a favorable risk-to-reward.