๐โ ๐$PNUT /USDT trade setup ๐โ ๐
Current Price:0.1602 USDT (with a change of +9.43%)
Key Levels:โ
- Support Levels:๐
- 0.1418 USDT
- 0.1350 USDT
- Resistance Levels:๐
- 0.1628 USDT
- 0.1700 USDT:
Bullish Entry Strategy:๐๐
1. Entry Point: Look to enter a long position if the price closes above 0.1628 USDT with strong volume. This would indicate a breakout above the resistance level.
2. Stop Loss: Place a stop loss slightly below the support level at 0.1418 USDT to protect against downside risk.
3. Take Profit Targets:๐ฆ
First target at 0.1700 USDT
Second target at 0.1750 USDT (if momentum continues)
Bearish Entry Strategy:๐๐
1. Entry Point: Consider entering a short position if the price fails to break above 0.1628 USDT and starts showing bearish signals such as declining volume and bearish candlestick patterns.
2. Stop Loss: Place a stop loss slightly above the resistance level at 0.1628 USDT to limit potential losses.
3. Take Profit Targets:โ ๐ฆ
First target at 0.1418 USDT
Second target at 0.1350 USDT (if bearish trend persists)
Take Profit Targets:๐ฆ๐
- Bullish Scenario:๐
- 0.1700 USDT
- 0.1750 USDT
- Bearish Scenario:๐
- 0.1418 USDT
- 0.1350 USDT
Stop Loss:๐
- Bullish Entry:Just below 0.1418 USDT
- Bearish Entry: Just above 0.1628 USDT
Market Insights and Pro Tips:๐โ ๐
1. Volume Analysis: Always watch the trading volume. Higher volume on breakout movements (either up or down) typically confirms the strength of that trend.
2. Risk Management: Never risk more than you can afford to lose. Stick to your trading plan and always use stop-loss orders to protect your capital.
Happy trading! If you need more specific information or have any other questions, just let me know. ๐๐๐
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