Trade Setup 12 Jan 24

Bearish View on INJUSDT

Welcome to Daily Trade Setups.

Trade:

• Sell INJ Perpetual future at $37.5

Stop Loss: $42.5

Target: $32.5

Payoff:

Max Profit: $5/INJ

Rationale:

The most recent movement in INJ suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts.

At present, the price is in the process of retracing towards the supply zone.

For risk management, we recommend setting a stop loss at 42.5 to invalidate the aforementioned setup.

Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to https://www.delta.exchange/research-disclaimer for analyst disclaimer and other disclosures.