Stop Loss: - Set stop loss at $ 0.3180 to minimize risk.
Profit Booking Method with Risk Management:
1. Partial Profits Strategy: - Target 1: Book 25% of your profits at $0.3486 to secure some gains in case of a reversal. - Target 2: Book another 25% at $0.3689 as the price continues moving upwards. - Target 3: Book 30% at $0.3981 to capture the majority of your profits. - Target 4: Close the final 20% at $0.4082 to maximize your gains.
2. Risk Management: - Use a 1:2 risk-to-reward ratio, ensuring that the potential reward outweighs the risk taken. - Regularly monitor volume for confirmation; increasing volume supports upward momentum. - If price approaches the stop loss, reassess your position and be ready to exit to minimize losses.
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