$FIL short liquidation and potential next moves.
🔥 $FIL Liquidation Update 🔥
💥 A massive $50.9K short position was liquidated at $5.251. This kind of liquidation often signals high volatility and could mean big opportunities for traders.
What’s Next?
$FIL seems to have gained bullish momentum after this liquidation. Here's a detailed plan for the next move:
📊 Trading Plan
Buy Zone:
Enter between $5.10 - $5.30.
This zone is likely to be retested, allowing for a good entry with a controlled risk.
Targets (Take Profit Levels):
1. Target 1: $5.50 (Initial resistance and profit booking level).
2. Target 2: $5.75 (Major resistance from previous trends).
3. Target 3: $6.00 (Psychological and technical milestone).
Stop Loss:
Place a stop loss at $4.95.
This ensures limited risk in case of unexpected downward movement.
🚀 Why This Strategy Works?
1. Liquidation Sweeps often lead to reversals or strong momentum in the opposite direction.
2. The $5.10 - $5.30 zone aligns with technical support, making it a favorable area for bulls to take control.
3. Targets are realistic and backed by historical price action.
Risk Management
Never invest more than 5% of your capital on a single trade.
Adjust position size based on your risk tolerance.
⚡ Final Thoughts
Stay disciplined and follow the plan. FIL has shown potential for strong upward moves in the past, and this setup could bring great opportunities.
📌 Remember: The market can be unpredictable. Always use proper risk management.
Good luck, and happy trading! 💹
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