Successful trade on PEPE – Technical analysis and calculated exit strategy
I entered a trade on $PEPE at the level of 0.00001330 after a strong support pattern formed on the 4-hour timeframe, supported by a noticeable increase in trading volume and the formation of a positive engulfing candle.
I observed a sell saturation on the RSI indicator at the level of 30, which reinforced the likelihood of a bullish reversal. I set the target at 0.00002200, which is a previous resistance level, and it was successfully achieved with strict risk management and a stop loss just below support.
The trade achieved approximate profits exceeding 65%.
My conclusion: Combining technical analysis with trading volume provided a strong entry signal. Adhering to the plan was the key to success.
