Hello everyone, let's take a look at the GMT to USDT chart over the 1 day timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with determining the stop loss that we should take into account in the coming days. As you can see, we have a fixed 3 stoploss:
SL1 - $ 0.907
and
SL2 - $ 0.798
Now let's move on to the targets that we can take into account, as you can see the targets are at the price:
T1 - $ 1,027,
T2 - $ 1,165,
and
T3 - $ 1,279
Looking at the CHOP indicator, we can see that in the 1-day range we still have some energy for further moves, looking at the MACD indicator, we see that the blue line is getting closer to the red line when it crosses from the top, it will confirm the downward trend.
Let's start with determining the stop loss that we should take into account in the coming days. As you can see, we have a fixed 3 stoploss:
SL1 - $ 0.907
and
SL2 - $ 0.798
Now let's move on to the targets that we can take into account, as you can see the targets are at the price:
T1 - $ 1,027,
T2 - $ 1,165,
and
T3 - $ 1,279
Looking at the CHOP indicator, we can see that in the 1-day range we still have some energy for further moves, looking at the MACD indicator, we see that the blue line is getting closer to the red line when it crosses from the top, it will confirm the downward trend.