How to place a stop loss?

$XRP If XRP broke through the level of 2.63, this confirms the breakout of the symmetrical triangle upwards, and we can expect continued growth. Now it is important to calculate new levels for position management:

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Actual actions:

1. Take profit:

The main target for the pattern is 2.90, as this is the height of the triangle base.

You can also use partial profit fixation at intermediate resistance levels, for example: 2.75.

2. Stop loss:

Move the stop loss to the level of the broken border of the triangle 2.63 to reduce risks.

If you want more freedom for the price, leave the stop loss at 2.55, just below the last correction.

3. Trailing stop (recommended):

Use a trailing stop to automatically fix profit if the price continues to grow.

For example, set a trailing stop of 0.10.

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What to expect:

Uptrend scenario: If trading volume remains high, the price could reach 2.90.

Downtrend scenario: If the price returns below 2.63 with low volume, it could be a false breakout.

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Additional recommendations:

Check the dynamics of indicators such as MACD, RSI, and volumes to determine the strength of the trend.

If you are trading with 38x leverage, monitor your position.