Here’s a detailed breakdown of your trade setup for $SOL /USDT:
Trade Overview:
This is a long position on SOL/USDT. You expect the price to rise from the entry zone to the specified targets.
Entry Zone:
Buy Range: 208.6714 - 212.9300
Start placing orders within this range.
If the price enters this zone, your trade setup becomes active.
Targets:
The profit targets for this trade are as follows:
Target 1 (T1): 214.4141
A minor resistance level. Partial profit-taking can be done here to secure gains.
2. Target 2 (T2): 218.6599
Stronger resistance. Take additional profit here.
3. Target 3 (T3): 222.9057
Significant resistance level. Recommended for larger profit-taking.
4. Target 4 (T4): 227.1515
5. Target 5 (T5): 231.3974
6. Target 6 (T6): 235.6432
7. Target 7 (T7): 239.8890
8. Target 8 (T8): 244.1348
Final target for this trade setup. Exit fully if this is reached.
Stop Loss:
198.0249
If the price falls to this level, the trade setup is invalidated.
This helps to limit your losses in case the trade goes against your expectations.
Leverage:
5x - 10x
Adjust leverage based on your risk tolerance and trading experience.
Higher leverage increases potential profits but also increases risk.
Risk Management:
1. Position Sizing:
Risk only 1-2% of your trading capital on this setup to maintain healthy portfolio management.
2. Trailing Stop:
Use a trailing stop as the price moves in your favor to lock in profits.
3. Partial Profit-Taking:
Secure gains at earlier targets to reduce risk and ensure profitability.
Market Conditions to Monitor:
Volume: Look for increasing volume as the price approaches the entry zone or breaks resistance levels.
News & Sentiment: Monitor market updates or news related to Solana (SOL) that could impact its price.
Technical Indicators:
RSI: Ensure it’s not in the overbought zone.
Moving Averages: Check alignment for upward momentum.
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