$FTM Here are the levels for entry buy and stop-loss (SL):
Entry Buy
1. Conservative Entry (Near Key Support):
Entry Level: 0.7650 – 0.7700
Enter when the price approaches the nearest support (short MA line) or wait for a rebound from this area.
Reason: This area is a dynamic support supported by the short MA and serves as a psychological level for a potential upward bounce.
2. Aggressive Entry (Breakout):
Entry Level: 0.8050
Enter if the price breaks the previous resistance (0.8022) with high volume.
Reason: A breakout of resistance indicates a bullish continuation.
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Stop-Loss (SL)
1. For Conservative Entry:
SL: 0.7550 (slightly below the previous support level).
This provides room if the price retests the support.
2. For Aggressive Entry:
SL: 0.7950 (below the broken resistance level).
Avoid large losses if the breakout turns out to be a false breakout.
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Target Profit (TP)
1. Target 1: 0.7850 – 0.7900
Near the previous high.
2. Target 2: 0.8200 – 0.8300
If bullish momentum continues.
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Notes
Always monitor volume and technical indicators during trading to adjust your position accordingly.
If the price breaks below the key support level (0.7550), the trend could shift to bearish.