Bullish momentum noted with strong recent gains (29.51% increase in a day).
Support: $0.12700
Resistance: $0.13890
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Trading Plan
Long Position Strategy
Entry: Buy ALT when price rises above $0.13500.
Take Profit Targets:
Target 1: $0.13800 (short-term)
Target 2: $0.14200 (more aggressive)
Stop Loss: Set at $0.13000 to minimize potential losses.
Risk Management for Long Positions:
Position Size: Allocate a percentage of your trading capital (e.g., 1-2%) to this trade, depending on your risk tolerance.
Risk-to-Reward Ratio: Aim for a risk-to-reward ratio of at least 1:2. For example, risking $500 to make $1,000.
Trailing Stop: As the price approaches the target, consider moving the stop loss to lock in gains, reducing downside risk.
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Short Position Strategy
Entry: Enter a short position for ALT if the price drops below $0.13000.
Take Profit: Set the target at $0.12700.
Stop Loss: Place the stop loss above the $0.13000 level to manage risk.
Risk Management for Short Positions:
Position Size: Use a conservative amount of capital, such as 1-2%, to mitigate risk.
Risk-to-Reward Ratio: Maintain a minimum 1:2 risk-to-reward ratio for profitable trades.
Adjusting the Stop Loss: If the trade starts moving in your favor, adjust the stop loss accordingly to secure profits.
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3. Additional Risk Management Guidelines
Capital Allocation: Never risk more than 2-3% of your total trading capital on a single trade.
Market Volatility: Be aware of high volatility, especially when news or announcements related to ALT are released. Use tighter stop losses if needed.
Portfolio Diversification: Avoid putting all your capital into a single trade or asset. Diversify across different assets to manage overall portfolio risk.
Psychological Discipline: Stick to your trading plan and avoid emotional decision-making. If the trade hits the stop loss, accept the loss and move on.
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