$BLZ
Here is the strategy for entry buy and stop loss (SL) based on the chart and indicators shown:
1. Entry Buy Strategy
Entry Level: You can consider entering a buy position if the price consolidates and moves above the key support level around 0.122.
Indicator Confirmation:
Ensure that the RSI is not in the overbought zone (below 70) to avoid buying at the peak.
Wait for a bullish candlestick signal or an increase in volume, indicating strong buying interest.
Alternative Entry: If the price corrects further to around the MA25 (pink) or MA99 (purple) level, you can also wait for a reversal signal at this level for a lower entry buy.
2. Stop Loss (SL) Strategy
Stop Loss Level: Place the SL slightly below the nearest support level to minimize risk. In this case, SL can be set around 0.118 or below the MA25 level.
Risk Management: Ensure the loss risk does not exceed 1-2% of your total capital to avoid excessive risk.
3. Take Profit (TP)
Initial Target: The first target can be at the next resistance level around 0.140 or higher if the price shows strong momentum.
Trailing Stop: If the price rises strongly, consider using a trailing stop to lock in profits while following the trend.
Summary
Entry Buy: Around 0.122 (with indicator confirmation).
Stop Loss: Around 0.118 or below the nearest support level.
Take Profit: Initially 0.140, with the option for a trailing stop if the price continues to rise.
Always ensure to follow a good risk management strategy and monitor price developments and indicators while the position is open.
