Review the price movement direction of the token Injective Protocol. Let us talk!
Injective Protocol is one of the tokens that has caught my attention this time because of its very impulsive movement on the market.
It can be seen that the move was very impulsive, and now the price of the Injective token is trying to be corrected.
If I change the timeframe to 1 hour, you can see clearly in the image below that the market structure has been corrected.
However, at a time when the price is trying to claim the upper price, this correction structure should be changed to bullish.
I saw that the Injective price tried to take the supply area near the previous high area to try and form a new lower price.
I myself have analyzed more specifically how to do a short market on token Injective.
I changed to the time frame of 5 minutes as in the picture above, and it is hard to change direction with the break structure BOS.
And the supply above that I have reduced to make my entry area position
I am currently in a short-market injective position.
And my target on the Injective movement was at the previous lower high, or even lower.
If the price runs according to the setup of my trading plan, then I will get a profit six times the risk I bet on.
Analysis of injective protocol token movements.
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