$NOT 15 min chart TRADING STRATEGY
Trading Strategy
Bullish Scenario
Entry Point:
Look for bullish reversal with MACD line crossing above signal line. Confirm with RSI moving above 50.Breakout above 0.01950 is a strong buy signal.
Stop Loss:
Place stop loss below recent low or MA99.Alternatively, below the lower Bollinger Band around 0.01750.
Take Profit:
Set initial take profit at middle Bollinger Band around 0.02000.Additional levels at 0.02050 and 0.02100.Extended targets around 0.02200.
Bearish Scenario
Entry Point:
Look for continued bearish confirmation with MACD histogram negative. RSI dropping below 40 confirms bearish momentum. Move below 0.01750 signals further bearish movement.
Stop Loss:
Place stop loss above recent high or middle Bollinger Band. Alternatively, above upper Bollinger Band around 0.02000.
Take Profit:
Set initial take profit near lower Bollinger Band around 0.01700.Additional levels at 0.01650.Extended targets around 0.01600 and below.
Final Thoughts
Market Sentiment: Indicators suggest a bearish trend with potential short-term recovery. Slightly oversold conditions in RSI and Stochastic RSI indicate potential for bullish momentum if recovery signals appear.
Risk Management: Use stop losses to manage risk, especially in volatile conditions. Adjust position sizes according to risk tolerance.
Confirmation: Use multiple indicators to confirm entry and exit points. Combining MACD, RSI, Bollinger Bands, and volume analysis provides a comprehensive view of market conditions.
