CGPT/USDT Trading Plan: Key Targets, Entry Strategy, and Risk Management
Overview:
CGPT/USDT has gained 9.57% in the last 24 hours, indicating strong bullish momentum. This sharp rise presents an opportunity for trading, but entering at the right price point and managing risk carefully is crucial.
Trading Strategy:
Trend Observation: The market is showing bullish strength with support forming around $0.4282. A solid entry would be near this level, confirming the continuation of the upward movement.
Entry Point: Enter between $0.4280 and $0.4300 for confirmation of the upward trend.
Target Levels:
1. Target 1: $0.4400
2. Target 2: $0.4550
3. Target 3: $0.4675
Stop Limit: Set a stop limit at $0.4200 to protect your position in case the market moves against you.
Risk Management:
Position Size: Limit your risk to 1-2% of your total trading capital on each trade. Adjust your position size based on your risk tolerance.
Exit Strategy: If the stop limit is triggered, exit the trade immediately to minimize losses.
Pro Tip:
Monitor the 15-minute and 1-hour charts for confirmation of continued upward momentum. As the price moves towards your target levels, consider adjusting your stop limit to secure profits and reduce exposure.
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