Trading Strategy
Bullish Scenario
Entry Point:
Look for a bullish reversal with the MACD line crossing above the signal line.Confirm with RSI moving above 50.A breakout above the recent consolidation high around 0.01950 could be a strong buy signal.
Stop Loss:
Place a stop loss below the recent low or MA99 to manage risk. Alternatively, use a stop loss below the lower Bollinger Band around 0.01800.
Take Profit:
Set initial take profit at the upper Bollinger Band around 0.02000.Consider additional take profit levels at recent highs around 0.02050 and 0.02100.For extended targets, look towards resistance levels around 0.02200.
Bearish Scenario
Entry Point:
Look for continued bearish confirmation with the MACD histogram remaining negative.RSI dropping below 30 would confirm bearish momentum.A move below the recent low around 0.01800 could signal further bearish movement.
Stop Loss:
Place a stop loss above the recent high or just above the middle Bollinger Band.Alternatively, use a stop loss above the upper Bollinger Band around 0.02000.
Take Profit:
Set initial take profit near the lower Bollinger Band around 0.01750.Consider additional take profit levels at previous support levels around 0.01700.For extended targets, look towards support levels around 0.01650 and below.
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