Research
Trade Setup 26 Oct 23
Delta Exchange
October 26, 2023
Bullish View on MKRUSDT Welcome to Daily Trade Setups. Trade:
- Buy MKR Perpetual future at 1440
Stop Loss: $1390 Target: $1520 Payoff: Max Profit: $80/MKR Max Loss : $50/MKR
Rationale: MKRUSDT achieved a remarkable breakout last week, surpassing resistance levels at 1350 and soaring to a new swing high at 1655. Currently, it's in the process of retracing back to its established support base at 1426. An encouraging sign is that MKRUSDT has maintained its support levels while retracing, further bolstering our confidence in its performance.
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.