### 1. Trend Analysis and Moving Averages (MA):
- The chart shows two Moving Averages: MA(5) and MA(10), with the 60-day moving average (MA60) drawn on the chart as well.
- The price is slightly above the MA60, indicating a potential uptrend resumption if it sustains above this level.
- The 5-day MA is lower than the 10-day MA, which can signal recent selling pressure but may reverse if the price maintains current levels or moves higher.
### 2. Volume Analysis:
- Volume has spiked recently, with green bars indicating buying interest at the lower levels around 2.2795.
- Higher volume on price increases could suggest buyers are gaining control, supporting an uptrend.
### 3. Key Levels to Watch:
- Resistance: Around 2.3828 (24-hour high).
- Support: Around 2.2244 (24-hour low) and the MA60 level at 2.2985.
### 4. Long Entry and Exit Strategy:
- Entry: Consider a long entry if the price breaks and sustains above the 2.31 level with good volume. This would show momentum continuation above the MA60.
- Take Profit (TP): Set the TP near the resistance at 2.38, and a secondary TP around 2.40 if the momentum remains strong.
- Stop Loss (SL): Place an SL just below the MA60 (2.29) or tighter at 2.27 to limit potential downside.
### 5. Short Entry and Exit Strategy:
- Entry: Consider a short position if the price falls below 2.29, especially if accompanied by a red volume spike. This would indicate a breakdown of the MA60 support.
- Take Profit (TP): Set the TP at the recent support near 2.22 or slightly lower to capture further downside momentum.
- Stop Loss (SL): Use a stop loss above 2.31 to avoid losses if the price rebounds.
### 6. Plan if the Trade Goes Against You:
- If you enter a long position and the price drops below the MA60 (2.29), consider exiting early or tightening the stop loss, as this could signal a trend reversal.
- If shorting and the price moves above 2.31, re-evaluate and potentially exit to prevent further loss.
- Keep an eye on volume – increasing buying volume on a dip can signal strength and may call for an adjustment in the trade.
### 7. Suggested Trade Duration:
- Given the 15-minute chart, these trades are short-term (scalping or intraday). If your position does not hit TP or SL within a few hours, reassess based on updated price action and volume trends.
Always remember that market conditions can change rapidly, so monitor the price closely after entering a trade and adjust based on live indicators.
