Technical Analysis $ONT
Trend: Strong Up (Price above the moving averages MA7, MA25, and MA99).
Entry Zone: Between 0.06450 and 0.06520 (wait for a slight retracement or consolidation at the MA7 support).
Take Profit 1 (TP1): 0.06720 (Immediate resistance).
Take Profit 2 (TP2): 0.06950 (Approaching the previous high).
Take Profit 3 (TP3): 0.07100 (Recent high / Breakout).
Stop Loss (SL): 0.06180 (Below the wick of the last strong candle and the MA7 average).
Tips to Protect Capital
1% Rule: Never risk more than 1% to 2% of your total bankroll on a single trade.
Break Even: As soon as the price reaches TP1, move your Stop Loss to the entry price. This ensures that, in the worst-case scenario, you come out "even."
Partial Realization: Sell 50% of the position at TP1. This locks in profit and reduces the emotional stress of the trade.
How to Use the Trailing Stop
The Trailing Stop is your best tool in explosive trends like this:
Activation: Set to activate after TP1.
Distance (Callback): Use a distance of 2% to 3%.
Logic: As ONT rises, your Stop automatically rises with it. If the price drops 3% from the new peak, the platform closes the order ensuring the maximum possible profit from the spike.