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Dear investors and Traders,

I would like to provide you with an update on FILUSDT, highlighting the current retest of the resistance zone at 5.9. Additionally, I want to discuss my price targets and associated risk management.

Current Situation:
At the time of this update, FILUSDT is retesting the resistance zone at 5.9. This level is crucial as it has historically posed significant challenges for upward movements.

Price Targets:
Following my analysis, my price targets are as follows:

First Target: 6.00 - This area has been identified as the initial target, based on a thorough analysis of support and resistance levels, as well as technical patterns.
Second Target: 6.50 - Extending further, the next target is set at 6.50, supported by technical indicators and a comprehensive market context analysis.
Risk Management:
To achieve these targets, I have implemented a risk management strategy:

Accepted Risk: 5% - I have decided to risk 5% of my initial position on this trade.
Anticipated Reward: 17% - My goal is to gain 17% on the trade.
Risk/Reward Ratio (RR): 1:4 - With a 1:4 RR, I ensure that potential gains significantly outweigh anticipated losses.
Possible Scenarios:

Achievement of Targets: If the price reaches the targeted levels, a reassessment of the situation may be necessary to determine new opportunities or adjust the strategy.
Rejection from Resistance: In the case of rejection, I am prepared to review my position and readjust the strategy accordingly, considering potential support levels.
Conclusion:
The current strategy focuses on clear price targets, prudent risk management, and flexibility to react to changing market conditions. It is important to stay informed about market developments and adjust the strategy accordingly.
DYOR NFA.

Best regards,

realmabbaskhan
#Write2Earn #Filecoin #filestorage #FIL/USDT #FILUSDT $FIL