Long Position on LOOMUSDT - Aiming for Three TargetsI've entered a long position on LOOMUSDT after noticing a potential reversal pattern.
My entry is at 0.09243, with the first target (TP1) set at 0.11057, the second target (TP2) at 0.12990, and the third target (TP3) at 0.15352.
Monitoring closely for any shift in momentum that may affect my position.
Profittarget
AAVE/USDT Long: Ascending Towards Profit TargetsEntered a long position on AAVE/USDT at the $90 mark, anticipating a bullish trend continuation. First profit target is set at $101.55, with a further eye on $111.53 for the second take-profit level. The trade will be invalidated if the price drops below $87.50, which is where I'll consider cutting losses.
DYDXUSDT Long Setup: Targeting Key LevelsWe're examining the DYDXUSDT pair for a potential long position, guided by technical analysis on the daily chart. The price action has settled into a consolidation pattern, making a strong base around the 2.979 entry point. This area has acted as a springboard, sending price action upwards with increasing momentum, as indicated by the recent green candles.
The Relative Strength Index (RSI) is currently at 60.59, which is neither overbought nor oversold, suggesting that there is room for upward movement before the market becomes overheated. This is supported by the RSI Divergence Indicator, which is not showing any signs of bearish divergence at this point, implying that the current bullish momentum has the potential to continue.
Our first profit target (TP1) is set at 3.420, which is in line with previous resistance levels that could now serve as a new support in the uptrend. The second profit target (TP2) is at 3.984, just below the significant psychological level of 4.0 and aligns with prior peaks where the price has shown considerable reactions in the past.
For risk management, a stop loss would be wisely placed below the recent consolidation zone to protect against any unexpected downturns. This strategic placement allows for normal price fluctuations without being stopped out prematurely.
In essence, this trade idea is built on the premise of a strong support base, continuous bullish momentum, and the absence of overbought conditions, presenting a compelling case for a long position on DYDXUSDT.
