Trading Plan with Three Goals:
1. When entering the trade
• Pre-determine the trade size (e.g., 1000 USDT).
2. Execute the sale
• Immediately after entering, set a limit sell order at the second target (TP2).
• Monitor price movement; in many cases, the price quickly touches TP2 with a rapid fluctuation or a candle wick — as happened with the NEIRO trade.
• Having a pre-set limit sell order at TP2 is essential to capture this opportunity.
• If the price retreats without reaching TP2, it's preferable to exit the trade when the price falls to TP1 to secure profits and minimize potential losses.
• The final part of the trade is managed manually:
• If you notice a slowdown in momentum or strong resistance, you can exit manually.
• Or leave the third target (TP3) active, and wait for it to be breached if the upward momentum continues.
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Additional Tips:
• Do not rely on greed to always reach TP3.
• Monitor volume and reversal candles to assess the strength of the movement.
• Do not enter the trade if it has already approached TP1 previously, to avoid entering at the end of the movement.
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