### 1. Trend and Moving Averages
- The current price is below the 60-period moving average (MA60), suggesting a bearish trend in the short term.
- The 5-period moving average (MA5) is also lower than the 10-period (MA10), reinforcing this downtrend.
### 2. Volume Analysis
- Recent red candles with higher volumes indicate strong selling pressure. However, we also see some green candles with volume spikes, which may suggest attempts to push the price up.
- A shift in volume from red to green would be a signal of potential reversal.
### 3. Key Support and Resistance Levels
- Support: Around the recent low near 0.1615, where buyers may show interest.
- Resistance: The MA60 level near 0.1633 could act as short-term resistance if the price tries to rebound.
### 4. Suggested Entry and Exit Points
- Long Entry: Consider entering around the support zone near 0.1615 if the price shows signs of holding there. A bullish reversal signal (such as a bullish candlestick pattern) could confirm this entry.
- Short Entry: Enter around 0.1633 or near the MA60 if the price retraces up to this resistance but fails to break above it.
### 5. Stop Loss (SL) and Take Profit (TP)
- Long Trade:
- SL: Set below the support at 0.1600 to limit downside risk.
- TP: Consider taking profit at 0.1645, just below the recent highs.
- Short Trade:
- SL: Set above the resistance at 0.1640 to cover potential spikes.
- TP: Take profit near 0.1615 if support holds or lower if it breaks.
### 6. Trade Duration
- For short-term trades, monitor the 15-minute to 1-hour timeframes.
- Close the position within hours or by the end of the day, depending on price action and volume.
### 7. Contingency Plan (If the Trade Goes Against You)
- For long positions: If the price closes below 0.1600 on the 15-minute or 1-hour chart, consider exiting as this would invalidate the support level.
- For short positions: If the price breaks and closes above 0.1640, consider cutting losses to avoid potential uptrend continuation.
