1. Identify Key Levels:
• Support: $0.035 (If the price holds above this level, it’s a good spot to buy).
• Resistance: $0.038 to $0.040 (Look to sell or take partial profits near this zone).
2. Buy Strategy:
• Enter a long position near $0.035 if the price shows signs of a rebound (e.g., a green candle forming with increased volume).
• Set a stop-loss slightly below $0.034 to minimize risk in case the market moves against you.
3. Sell Strategy:
• Take profits in stages:
• Sell 50% of your position around $0.038 (resistance level).
• Let the rest ride for a potential breakout toward $0.040 or higher.
• If the price approaches $0.040 and struggles to break out, exit completely to secure profits.
4. Short Opportunity (if price breaks support):
• If the price falls below $0.035 with strong selling pressure, consider shorting with a target of $0.032.
• Place a stop-loss slightly above $0.036 to manage risk.
5. Use Indicators for Confirmation:
• Check the RSI: If it’s oversold near $0.035, the chance of a bounce is higher.
• Monitor volume spikes: Increased buying volume confirms bullish momentum.
6. Stay Flexible:
• If the market trends sideways with low volatility, avoid making impulsive trades and wait for a clear breakout or breakdown.
Risk Management:
• Never risk more than 2-3% of your portfolio on a single trade.
• Stick to your stop-loss and profit-taking strategy without emotional decisions.
#pengu
