$AUCTION /USDT Short Trade Plan ๐
โ Entry Zone: Consider entering a short position within the $12.50 - $12.70 range. This area aligns with the recent consolidation and might offer a reasonable entry before further potential downside.
โ Stop Loss: Set a stop loss above a recent high, perhaps around $12.90. This aims to limit your risk if the price unexpectedly reverses upwards.
๐ฏ Profit Targets:
* Target 1: $12.20 ๐ (Consider taking partial profits and moving your stop loss closer to your entry point, perhaps just below it to lock in some gains).
* Target 2: $11.90 ๐ฏ
* Target 3: $11.50 ๐
๐ Risk/Reward Ratio: Aim for a favorable risk/reward ratio, ideally 2:1 or higher. This depends on your entry point and the placement of your stop loss and targets.
๐ Strategy: As the price moves in your favor and hits the first target, consider adjusting your stop loss to breakeven or slightly into profit to protect your initial capital. You could also consider taking partial profits at each target.
Important
