Plan for XMR/USDT (4-hour timeframe)
Trading XMR/USDT with a bearish forecast. The main goal is to wait for a break below the key support level of 150.80, which will signal a possible reversal of the current bullish trend and give an opportunity to open a short trade.
⚡ Entry point: I plan to enter the trade if the price drops below 150.80. This level is critical, and a decisive break below it will confirm the bearish scenario.
⚡ Stop-loss: To manage the risk, we will set the stop-loss at the level of 154.60. This means that if the price moves against the short position and reaches 154.60, I will exit the trade to limit potential losses.
⚡ Take Profit 1: Set at 148.50. This is the first target to take profit if the trade moves in our favor.
⚡ Take Profit 2: Set at 144.70. This is the second target level, which is a more advanced take profit level.
It is very important to effectively manage risks. A stop loss at 154.60 helps protect capital in case the market does not move as expected. Always stick to your trading plan, even if emotions or market fluctuations tempt you to deviate from it.
Remember that trading involves risk, so conducting thorough analysis and following a risk management plan is essential to making informed and strategic trading decisions.
