Entry: Enter a long position now at 0.19005, as the breakout above resistance with high volume confirms bullish momentum.
Stop-Loss: Place a stop-loss below the support zone at 0.18450 to protect against a false breakout. This gives a buffer below the 0.18500 support.
Target: Aim for the next resistance at 0.19400, which aligns with the previous high. This gives a potential profit of 0.00395 (0.19400 - 0.19005).
Risk-Reward Ratio:
Risk: 0.19005 - 0.18450 = 0.00555
Reward: 0.19400 - 0.19005 = 0.00395
The risk-reward ratio is approximately 1:0.71, which is slightly below the ideal 1:2. However, the breakout setup with volume support makes this a reasonable trade.
Summary:
Entry: 0.19005
Stop-Loss: 0.18450
Target: 0.19400
Monitor the price action closely, as crypto markets can be volatile. If the price fails to hold above 0.18900, consider exiting early.
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