#TradeStories
Today, I decided to place a Long INIT order at 0.5980, set SL at 0.57 and TP at 0.69, after carefully assessing the market and the current technical trends.
Why did I choose this price level?
• Trading volume is steadily increasing while the current price is testing support at 0.59. This is the point where I expect a strong recovery.
• EMA is giving positive signals: EMA 20 crosses above EMA 50, indicating that the short-term trend may continue.
• RSI is not overbought yet, and can maintain upward momentum if the price does not drop sharply below 0.58.
Reasons for entering the order:
• Choosing the entry point close to the support area, hoping the rally will continue up to 0.69.
• SL at 0.57 to protect capital if the market reverses strongly.
• TP at 0.69 but I am also considering shortening TP to 0.67 if the trend shows signs of slowing down.
Lessons learned:
• Plan before entering the order: SL and TP have been clearly defined, helping me feel more confident when trading.
• Closely monitor indicators: EMA, RSI, and volume all support my strategy.
Expected outcome:
I hope the price will continue its upward trend and reach TP 0.69, but if there is a reversal, I will adjust TP to minimize risk.
What about you?
Are you watching INIT? What do you think about my strategy?
