$CRYPTO:PEELUSD long (based on SMC)
Updated
PEELUSD (Peel) is a cryptocurrency renowned for its high volatility, presenting both significant risks and lucrative opportunities for investors. The coin's volatility is central to its appeal, attracting traders looking to capitalize on price fluctuations. The investment strategy behind Peel/USD is grounded in the Smart Money Concept (SMC), a methodology that seeks to exploit market inefficiencies and capitalize on shifts in supply and demand dynamics.At the time of entry, Peel/USD is positioned at 0.01240, leveraging the demand zone identified within the daily timeframe. This strategic entry point is crucial, as it aligns with the principles of SMC, aiming to enter the market at opportune moments to maximize profit potential.
The primary profit-taking strategy involves setting a target price (TP) at 0.03642, representing a substantial upside potential from the entry point. However, it's imperative to adopt a staggered approach to profit-taking, securing gains at intervals leading up to the full TP. This mitigates risk and ensures that profits are locked in along the way, safeguarding against sudden market reversals.
Given the inherent volatility of Peel/USD, implementing a manual stop-loss (SL) strategy is advisable. While a predefined SL based on a 3% loss can be considered, it's crucial to acknowledge the heightened likelihood of SL triggers due to the coin's erratic price movements. Traders must exercise caution and monitor market conditions closely to adjust SL levels accordingly, minimizing potential losses while maximizing profit potential within this dynamic trading environment.
Note
As I already told, sl could be manually, or 3 % under the entry (whereas the 1st better is, because it could be from the high volatility that it will hit your sl)!Trade closed: target reached
Our trade was filled, and we are now in 2x Profit📈!
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