$ONT Hi, I'm Javeria, and in this revised trade signal, we're adopting a more conservative approach with closer targets, focusing on smaller, quicker profits in the short-term after a pump, while prioritizing caution and risk management.
Revised Trade Signal (Conservative, Closer Targets):
Time Frame: Short-term (Scalp or Day Trade)
Rationale: After a pump, caution is advised. We'll aim for smaller, quicker profits.
Current Price (Approximate): $0.2432 (from the image)
Key Changes and Explanations:
* Entry: We'll aim for a pullback to the $0.2400 - $0.2410 support zone (around the MA(7)). This is a more conservative entry than chasing the price after the pump. Wait for the pullback.
* Take Profit (TP) Levels: We'll focus on the closest resistance levels:
* TP1: $0.2460 - $0.2470 (Just below the MA(25)). This is a quick profit target.
* TP2: $0.2500 - $0.2510 (A little below the next resistance level).
* Stop Loss (SL): We'll tighten the stop loss to $0.2360 - $0.2370, just below the recent swing low and the MA(99).
Revised Signal Summary:
* Entry: $0.2400 - $0.2410 (Wait for the pullback)
* TP1: $0.2460 - $0.2470
* TP2: $0.2500 - $0.2510
* SL: $0.2360 - $0.2370
Additional Considerations:
* Confirmation: After the pullback to the entry zone, look for bullish candlestick patterns (e.g., hammer, bullish engulfing) on shorter timeframes (5-minute, 15-minute) before entering. This confirms the support is holding.
* Volume: While volume is important, it's less critical for these short-term, close-target trades. However, unusually low volume during the pullback could be a warning sign.
* Risk Management: Essential. Use a very small position size. This trade is counter-trend (betting on a continuation after a pullback), so caution is paramount.
* Alternative Scenario: If the price breaks below $0.2360 before hitting the entry zone, the trade setup is invalidated. Do not enter. If you enter and the price stalls at TP1 or shows significant selling pressure, consider taking profits and exiting manually.
Disclaimer: This is not financial advice. This revised analysis is based on the same chart image and emphasizes a more conservative approach with closer targets. Trading cryptocurrency is highly risky. Always do your own thorough research and trade responsibly.
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