Based on the current scenario of #MubarakToTheMoon , here are potential entry and exit points for a spot trade.
Potential Long Entry Points:
Immediate Entry (Aggressive): Around the current price of 0.0528 USDT. This is based on the price being above the short-term MA(7) and mid-term MA(25), suggesting continued short-term bullish momentum.
Confirmation: Look for increasing volume on any further upward movement to support this entry.
Pullback to Support Levels (Conservative):
Entry at MA(7) (around 0.0523 USDT): If the price retraces slightly to the 7-period moving average and shows signs of bouncing back up (e.g., bullish candlestick patterns), this could be a lower-risk entry.
Entry at MA(25) (around 0.0517 USDT): A deeper pullback to the 25-period moving average could offer an even more conservative entry point, assuming it holds as support.
Potential Take Profit (Exit) Points:
First Target: The previous swing high around 0.0620 - 0.0650 USDT. This acts as a natural resistance level.
Second Target: If the first resistance is broken with strong volume, the previous high of 0.0720 USDT could be the next target.
Trailing Stop Loss: Consider using a trailing stop loss to lock in profits as the price moves higher. This would automatically adjust your stop loss level as the price increases.
Potential Stop Loss Points:
Below MA(7) (for aggressive entry): Place a stop loss slightly below the 7-period moving average (e.g., around 0.0518 - 0.0520 USDT). This would limit your losses if the short-term bullish momentum fails.
Below MA(25) (for conservative entry): Place a stop loss slightly below the 25-period moving average (e.g., around 0.0512 - 0.0515 USDT). This provides more buffer but also a potentially larger loss if triggered.
