Trade Setup: TAO Long Position
Market Context:
TAO has shown a change of character (CHOC) and risen 82% in price during July.
We're looking for a higher low to establish a trend for continuation higher, turning previous resistance levels into support.
Trade Parameters:
Entry: Enter in the golden zone, mid-range. Specifically, retesting the $266 to $280 area of resistance as support.
Take Profit:
First target: $480
Second target: $560
Third target: $740
Stop Loss: Set at a daily close below $200.
Additional Notes:
Maintain some dry powder in your TAO allocation in case of a larger pullback to dollar-cost average (DCA) at range lows.
Monitor price action closely in the $266 to $280 area to confirm support before fully committing to the trade. Adjust your strategy if market conditions change significantly.
#TAO #TradingStrategy #CryptoTrading 🎯
TAO has shown a change of character (CHOC) and risen 82% in price during July.
We're looking for a higher low to establish a trend for continuation higher, turning previous resistance levels into support.
Trade Parameters:
Entry: Enter in the golden zone, mid-range. Specifically, retesting the $266 to $280 area of resistance as support.
Take Profit:
First target: $480
Second target: $560
Third target: $740
Stop Loss: Set at a daily close below $200.
Additional Notes:
Maintain some dry powder in your TAO allocation in case of a larger pullback to dollar-cost average (DCA) at range lows.
Monitor price action closely in the $266 to $280 area to confirm support before fully committing to the trade. Adjust your strategy if market conditions change significantly.
#TAO #TradingStrategy #CryptoTrading 🎯
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