strong buy
Short WIFUSDT at Resistance with Risk Management
The current strategy is to short #WIFUSDT from $0.855 with a stop loss at $0.9201.
On the 1-hour chart, a reversal harmonic pattern called 'Crab' has formed for WIF, with the price reaching resistance at $0.9050. A sell fractal appeared at this level.
The chart clearly shows an imbalance that is likely to be rectified. The targets for take profits are marked with white lines. Once the first target is reached, it is recommended to move the stop loss to break-even.
At levels between $0.7786 and $0.7349, it is advised to lock in 50% of the position. Trade carefully and adhere to sound risk management principles.
Consider enrolling in trading courses for a deeper understanding.
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AI Analysis
The analysis on WIFUSDT indicates a potential bearish reversal based on the formation of a harmonic 'Crab' pattern, which generally signals a trend reversal or continuation depending on context. The r...
AI Recommendation
Based on this technical outlook, it is advisable to proceed with the short position at $0.855, utilizing the stop loss at $0.9201 to limit downside risk. As the target levels are approached, adjust yo...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.