$DOT Conservative Entry: Wait for a clear bullish reversal signal like a higher high and higher low formation or a bullish engulfing candle. You could also consider entering on a pullback to the 9.00 level.
Aggressive Entry: Enter at the current price of 9.013, assuming the bullish trend continues.
Stop-Loss:
Conservative Stop-Loss: Place the stop-loss below the recent swing low (around 8.772) to limit potential losses.
Aggressive Stop-Loss: Place the stop-loss slightly below the entry price (e.g., 8.98).
Profit Targets:
Short-Term Target: Aim for a profit target of 5-10% from your entry price. This could be around 9.46-9.91.
Intermediate-Term Target: Consider a target near the 9.234 level, which represents a significant resistance level.
Long-Term Target: If the overall market sentiment remains bullish, you could set a longer-term target near the 10.00 level.
Key Levels:
Resistance: 9.234
Support: 9.00, 8.772
Risk Management:
Always use a stop-loss order to limit potential losses.
Consider using a trailing stop-loss to lock in profits as the price moves in your favor.
Don't risk more than you can afford to lose.
Diversify your portfolio to reduce risk.$DOT