Asset: DAOUSDT Technical Analysis: Key Entry Point: A compelling buy signal triggered at 1.10 after a strong stop and retest at the 61% Fibonacci level. Moving Average Support: Maintaining a bullish stance, DAOUSDT is trading above the 200-day moving average, reinforcing the positive trend. Secondary Buy Zone: Another potential entry point identified at 0.85, offering an additional opportunity if needed.
The 1.10 entry point aligns with a significant stop and retest at the 61% Fibonacci level, indicating a strong support zone. Continuous trading above the 200-day moving average reinforces the bullish momentum. A secondary buy zone at 0.85 provides flexibility in adapting to market conditions.
π Additional Buy Zone:
Be prepared to execute in the secondary buy zone (0.85) if market dynamics necessitate it.
π‘ Risk Management:
- Only use 5%-10% of your capital for this trade to mitigate risks. - Do not invest your full capital; it's important to diversify and manage risk exposure. - Consider setting a stop-loss at an appropriate level to protect your investment. - Regularly monitor the trade and adjust stop-loss levels as needed.
π’ Spot Trading vs. Futures:
- Spot trading is a safer and more controlled approach, allowing for better risk management compared to the higher volatility and speculative nature of futures trading. - Exercise caution and consider the potential risks associated with leveraged instruments.
π¨ Disclaimer: Trading involves risks, and past performance does not guarantee future results. Exercise caution and conduct your research before making any financial decisions.
TP 1: 1.25 β
π Profit: +45% π
TP 2: 1.85 β
π Profit: +115% π
π Position Successfully Closed. ππ₯³