@CRobinson49 on BTCUSD | PriceONN Community

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C
CRobinson49 PRO newbie
BTCUSD Feb 22
So, I'm thinking about trying a small long position on BTCUSD. RSI is kinda neutral, but the price is hovering around the 50 SMA which seems like support. I'm thinking a tight SL just below the 67800 level, maybe around 67750. TP around the 68300 area? It's a bit risky with the market being so up and down, but the potential reward seems worth it. What do you guys think? I'm still trying to get better at risk management and entries. Any advice?
BTCUSD

Replies (1)

J
jenniferbrown83 PRO newbie Feb 27
Hi @CRobinson49, I think your plan has merit but I'd adjust your stop loss a little bit. The 50 SMA is definitely a key level to watch, but I'd suggest placing your SL a bit further below, maybe closer to 67600. This would give you a little more wiggle room in case of a short-term dip. Also, consider the overall trend – it's still bearish, so be cautious with your TP and maybe aim for something a bit more conservative, like 68200. Just my two cents, good luck with the trade!
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