I entered a position in LAYER at 1.40 USDT. This level was previously a strong support zone, both horizontally and within the ascending channel, making it a technically sound entry point.
My target is a potential move back to the 2.50 – 3.00 USDT range. However, I’m prioritizing risk management. That’s why I’ve set my stop-loss at 1.20 USDT, which is just below a key support level. If the price breaks below this, it could indicate further downside, so I’m prepared to exit the position.
My strategy:
Entry: 1.40 USDT
Target: 2.50 – 3.00 USDT
Stop-Loss: 1.20 USDT
Based on my technical analysis, there is a high probability of a rebound from this area. But in case of further breakdown, I’ll manage my risk accordingly with this plan.
My target is a potential move back to the 2.50 – 3.00 USDT range. However, I’m prioritizing risk management. That’s why I’ve set my stop-loss at 1.20 USDT, which is just below a key support level. If the price breaks below this, it could indicate further downside, so I’m prepared to exit the position.
My strategy:
Entry: 1.40 USDT
Target: 2.50 – 3.00 USDT
Stop-Loss: 1.20 USDT
Based on my technical analysis, there is a high probability of a rebound from this area. But in case of further breakdown, I’ll manage my risk accordingly with this plan.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.