MarketsFuturesOptions
AlgoHubPath 2
Algo Marketplace
Subscribe to Automated Strategies
Path 2
Trading Bot
Automate Bots from TradingView
Path 2
APIs
Create API key and Start Trading
Path 2
Trade Data
Download historical tick by tick data
Path 2
MorePath 2
Trade
RWA Tokens
Trade metal & stocks
Path 2
Straddle
Trade Straddles on BTC & ETH
Path 2
Spot
Buy and Sell BTC & ETH
Path 2
Strategy Builder
Create and analyse basket orders
Path 2
Demo Trading
Simulate real trading without risk
Path 2
Data
Analytics
A dashboard to visualize options data
Path 2
Rewards & Promotions
Offers
Claim Your Rewards
Path 2
Referral Program
Refer Friends and Get Rewards
Path 2
Delta Exchange Blog
Trade Setup 22 Nov 23
Research

Trade Setup 22 Nov 23

Delta Exchange
Delta Exchange
November 22, 2023

Bullish View on MKRUSDT Welcome to Daily Trade Setups. Trade:

  • Buy MKR Perpetual future at $1460

Stop Loss: $1360 Target: $1560 Payoff: Max Profit: $100/MKR Max Loss : $100/MKR

Rationale: The recent price movement in MKR has convincingly breached the resistance level at 1445, and gave a swing high of 1460. Now the price is attempting to retrace towards its foundational or demand zone regions. An encouraging sign is that MKRUSDT has maintained its support levels while retracing, further bolstering our confidence in its performance. Examining the daily chart, it’s evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.

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.

Share