To maximize short-term profit from USUAL/USDT while effectively managing risk, here is a well-thought-out entry and exit plan based on the technical analysis shown in the chart:
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Entry Plan:
1. Buy Level:
If the price drops to $1.22 – $1.23 (nearby support level), buy while checking for positive reversal signals (such as rising RSI or positive MACD crossover).
2. Signal Confirmation:
Ensure a strong bullish candle or increased volume to support the potential upside.
3. Allocation:
Invest no more than 5-10% of your total capital to minimize risk.
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Exit Strategy:
1. Take Profit Targets:
1st Target: $1.28 (nearby resistance level).
2nd Target: $1.33 if the bullish momentum continues.
2. Stop Loss:
Set a stop loss at $1.20 if the price breaks the major support to avoid big losses.
3. Trade Management:
If the price exceeds $1.28, move the stop loss to the entry level to ensure profit.
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Additional Tips:
Daily Follow-up: Monitor the market regularly, especially during news or high volume.
Adapting to the market: If bearish signals persist, do not enter the trade until a clear bullish momentum appears.
If you need help identifying trading signals as they move, I can guide you in detail!