Levels to aim for greater potential gains. Here's an updated strategy:
Trading Signal (Buy):
Entry Point: $3.11 (current price)
Stop-Loss: $2.90 (tighter stop below the recent support, reducing risk)
Take-Profit Levels:
First Target: $4.00 (key psychological resistance and previous high)
Second Target: $5.00 (another significant resistance level)
Third Target: $6.08 (next major resistance level visible on the chart)
Explanation:
The entry remains at $3.11, which is close to the current price.
The stop-loss is now set at $2.90, slightly tighter to minimize losses if the trade goes against you.
The first take-profit target is set at $4.00, where sellers are likely to appear.
The second take-profit target is extended to $5.00, a critical psychological level.
The third take-profit target is $6.08, a significant resistance area, which provides a higher reward potential.
