Entry and exit strategy for HAEDAL/USDT based on technical analysis.
Technical data and current volatility for HAEDAL/USDT indicate strong speculative activity and upward momentum in the short term. After a rise of over 16% in the last 24 hours, the candles show that there is significant buying interest, but there are important resistances to be aware of.
Entry Strategy:
Randomly entering cryptocurrency trades can lead to quick losses, so it is advisable to adopt a well-considered entry point. In the case of HAEDAL, the best entry area is between $0.147 to $0.150. This area is an important support and has previously formed a base for an upward breakout.
To confirm the entry, it is preferable to wait for a daily green candle to close above the level of $0.1525 accompanied by an increase in trading volume, which enhances the likelihood of continued upward momentum.
Take Profit Levels:
Upon a successful entry from the support area, profit-taking levels are determined progressively:
Target one: $0.159 to $0.160 — which represents the highest price recorded in the last 24 hours and is a close and reasonable target for quick speculators.
Target two: $0.167 to $0.170 — this is a recurring resistance area that has appeared in multiple candles, and the price may need additional buying power to break through.
Target three: $0.208 — which is the highest peak the price has recently reached and is an ambitious target that can be pursued if the upward momentum continues.
Stop Loss:
To ensure limiting losses in the event of a trend reversal, it is advisable to set a strict stop loss below the mentioned support, specifically at the level of $0.144. As a more conservative option, it can be set at $0.141 to reduce potential losses.
Exit Strategy:
It is better to use a partial exit strategy to secure profits and mitigate risks:
Filter 30-50% of the trade when reaching the first target, allowing for securing part of the profits early.
As for the remaining percentage, it can be managed using a Trailing Stop method of 3-5% after surpassing the level of $0.160. This method helps to automatically secure profits in case of a sudden reversal.
Final tips:
Monitor trading volume closely, as any price increase without confirmation from liquidity could be a false signal.
Do not enter the trade with a large amount of your capital; use only a percentage not exceeding 2-3% of your portfolio.
Follow the project's news or updates from the development team, as they may significantly impact price movement.
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With this strategy, you have built a well-thought-out trading plan that combines technical analysis and risk management intelligently.