Question: I opened a Long position at $0.69. At what price do I need to open the corresponding position, and what volume should I use?
Answer: You are holding a Long position in ADA at $0.69. To open a corresponding position (Short) for risk hedging or to lock in profits, we need to identify two main factors.
1. Target for opening a corresponding position (Short)
There are 2 scenarios:
A. Risk hedging (if the price drops)
Open Short when the price breaks the nearest strong support, that is when:
ADA breaks below $0.68 (this is an important support level according to technical analysis).
Suggested price to open a Short position: $0.675 or lower, when a candle closes below the $0.68 area with confirmed volume.
Stop loss for the Short position: $0.695 (if the price returns to the initial buying area).
Take profit for the Short position: $0.64 – $0.65.
B. Locking in profits (if the price has gained)
Open Short at strong resistance when the price is near $0.72 – $0.73.
This is how to 'lock' in profits if you are unsure ADA will break out of the resistance area.
2. Volume for the corresponding position
Depending on your goal:
Want to lock in all profits/risks: enter 100% of the current Long position volume.
Want to hedge partially (soft hedge): enter about 30–50% of the Long position volume.
For example: if you are Long 1,000 ADA at $0.69, you can Short:
1,000 ADA if you want to 'freeze' the entire position.
300–500 ADA if you only want to reduce risk in the short term.
Suggested short-term strategy
If ADA drops below $0.675, open a 100% Short to avoid deep losses.
If ADA rises to $0.72, consider Shorting 50–100% to lock in profits if you do not want to exit the Long position.