Maximize Your Profits with ETHUSD Long Position: Set Stop Loss and Take Profit Levels on Chart

Looking to replicate a successful trade from a few weeks back in the cryptocurrency market. During weekends, crypto tends to see upward movement due to limited trading options elsewhere. Currently, ETH is hovering around a crucial support level of 3370, similar to the position held a couple of weeks ago that proved profitable. Anticipating a decline in the dollar before the market closes today due to monthly profit-taking activities, especially with the DXY facing strong resistance at 106.00, making it an attractive level for profit-taking. Expecting positive movements in XAU, XAG, and DOW before the market closes, with crypto likely to maintain its weekend momentum. However, a significant drop in gold, silver, and the Dow Jones before market close could impact this trade. With a very narrow stop-loss set at 0.5%, the risk associated with this position is minimal. The risk-reward ratio stands at 1:5 for this trade, aiming for a potential gain of 2.5%.

Trade has been initiated, and the position is currently active.