$KAITO here's a detailed trading plan with buy zones, target levels, and stop-loss recommendations.
Buy Zone:
Considering the current price and recent support levels, an optimal buy zone is between $1.62 and $1.69. This range has previously acted as a support area, offering a favorable entry point for buyers.
Target Levels:
1. First Target: $1.75
This level aligns with recent resistance points and could serve as an initial profit-taking area.
2. Second Target: $1.85
If the bullish momentum continues, the price may aim for this higher resistance level.
Stop-Loss:
To manage risk, consider placing a stop-loss order below the identified support zone, for example, at $1.58. This approach helps protect your capital if the price moves against your position.
Risk Management Tips:
Position Sizing: Allocate only a portion of your capital to each trade to mitigate potential losses.
Continuous Monitoring: Regularly review price movements and adjust your strategy as necessary.
By considering these buy zones, target levels, and stop-loss points, you can enhance your trading strategy and make more informed decisions.