$AGLD For it looks like there's been a short liquidation of $1.8708K at $2.20616. Let’s break down the next steps with clear and simple analysis, including buy zones targets and Stop loss levels.
Current Situation.
Short Liquidation Level. $2.20616
Amount Liquidated. $1.8708K
This means a lot of shorts were forced to close their positions when the price hit that level, which could signal potential for upward price movement.
Technical Analysis and Price Action.
1. Buy Zone. Look for a good entry around $2.00 - $2.10. This range might be a solid entry point if the price pulls back slightly after the liquidation.
2. Target Levels.
First Target. $2.50 A reasonable target as the price might move towards the next resistance.
Second Target. $2.80 If momentum continues, this could be a higher resistance level to aim for.
3. Stop Loss. Place a stop loss at around $1.90 to manage risk. This level will help protect against larger losses if the price moves against you.
Key Considerations.
Watch for market volume and price action near your entry level to confirm the trend is continuing upwards.
Short liquidation often causes a quick price spike, so patience is important. If the price retraces to your buy zone and holds, the upward momentum could continue.
By staying within these zones and keeping the stop-loss in place, you can limit risk while taking advantage of the potential upside.
Stay updated with market movements and be ready to adjust if needed.
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