$COMP Here’s a thrilling post based on the Long Liquidation event and the next steps for your trade. I’ll break it down into clear points, including buy zone, target, and stop-loss levels.
$COMP Long Liquidation Alert.
Long Liquidation Value: $3.5208K
Price at Liquidation: $80.49
What does this mean.
A large $3.5208K long position was liquidated at $80.49, which can trigger further market movement. Liquidations like this often cause volatility, and it’s a good opportunity to plan your next steps carefully.
What’s Next for $COMP.
1. Buy Zone.
Based on the market conditions after the liquidation, you should look for potential entry points. A good buy zone could be between $75.50 and $77.00, where there’s support and possible bounce back potential. Watch for signs of stabilization and upward movement within this range.
2. Target.
If the price holds strong and begins to move upwards, the first target is likely around $85.00. This is the resistance zone where price might face some difficulty pushing past, but if it breaks, the next target is $90.00.
3. Stop Loss.
For safety, set a stop loss just below the recent low, around $73.00. This helps protect your capital in case the price drops further and doesn’t recover.
Important Tips for This Trade.
Patience is Key.
After a liquidation, price might fluctuate heavily. Wait for confirmation that the market has stabilized before entering.
Watch Market Sentiment.
If there's sudden news or rumors affecting $COMP, adjust your strategy accordingly.
Risk Management.
Always manage your risk by setting a stop loss and calculating position size to ensure you don’t lose more than you're comfortable with.
This is a thrilling time to trade, but make sure you're ready to act fast and adjust as needed. Keep an eye on the key levels and manage your risk well!
Happy Trading.
Let me know if you need any further clarifications on this trade.
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