$DYM Here's a detailed analysis for based on the provided short liquidation at $1.45437. Let's break it down into key insights and trading plans.
Market Situation.
1. Short Liquidation.
A liquidation of $1.3505K at $1.45437 indicates that short positions were forced to close, pushing the price higher temporarily.
2. Current Trend.
Likely bullish momentum after liquidation, as sellers shorts are losing ground.
Trading Plan.
Buy Zone.
Ideal Entry Range. $1.440 - $1.460
This zone is near the liquidation level and aligns with support from buyers.
Targets.
1. Target 1: $1.500
Minor resistance level where profit booking might occur.
2. Target 2: $1.550
Stronger resistance level, indicating a potential reversal zone.
3. Target 3: $1.600
Major upside target if bullish momentum continues.
Stop loss.
Stop Loss Level: $1.420
Below recent support to minimize losses if the market reverses.
Risk Management.
Never risk more than 2-3% of your trading capital on a single trade.
Watch out for sudden volatility or market manipulations around liquidation levels.
What’s Next.
If Price Breaks $1.460: Wait for confirmation above this level to enter long positions.
If Price Drops Below $1.420: Avoid buying and wait for stability or re entry opportunities.
Monitor Volume.
Increasing volume near $1.45437 suggests strong buyer interest decreasing volume might signal weakness.
Would you like further clarification or updates.
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