$API3 Trade Idea 💡
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Chart Analysis:
- Breakout: Price broke above the descending triangle,
indicating a potential bullish trend.
- Resistance Levels:
- Immediate resistance at $1.88.
- Next targets: $2.50, $3.69.
- Support Levels:
- Strong support at $1.50.
- Further support at $1.12.
- RSI: Overbought (>70), signaling a potential pullback or consolidation.
Strategy:
Bullish (Long) Setup:
- Entry: On a breakout and close above $1.88 or on a pullback to $1.50.
- Stop Loss: Below $1.50.
- Take Profit:
- TP1: $2.50.
- TP2: $3.00.
- TP3: $3.69.
Bearish (Short) Setup:
- Entry: If the price fails to close above $1.88.
- Stop Loss: Above $1.90.
- Take Profit:
- TP1: $1.50.
- TP2: $1.12.
Risk Management:
- Leverage: Up to 3x.
- Risk: Limit risk to 1-2% of capital with a 1:2 risk/reward ratio.
