OBSERVATIONS:
1. Price Movement:
Current price: $0.2230.
24-hour high: $0.2392.
24-hour low: $0.2150.
The price seems to be in a downtrend with slight pullbacks.
2. Moving Averages (MA):
The chart shows MA(5), MA(10), and MA(60).
The shorter MAs (5 and 10) are below the MA(60), confirming a bearish trend.
3. MACD:
The MACD line (DIF) is below the signal line (DEA), indicating bearish momentum.
The MACD histogram is in the negative zone, showing weak bullish attempts.
4. Volume:
There are spikes in volume during certain moves, suggesting periods of increased market interest.
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STRATEGY FOR ENTRY & EXIT POINTS:
1. Short Trade Setup:
Entry: Enter a short position if the price breaks below $0.2150 (recent low) with strong volume.
Stop Loss: Place a stop loss above $0.2250 (resistance and MA level).
Take Profit: Aim for a profit zone around $0.2100 or lower, depending on momentum.
Plan B: If the price consolidates above $0.2150 without breaking lower, exit the trade to minimize losses.
2. Long Trade Setup:
Entry: Enter a long position if the price closes above $0.2260 (current resistance) with increased volume and bullish confirmation.
Stop Loss: Place a stop loss below $0.2200.
Take Profit: Target $0.2350 (previous high) or higher if momentum continues.
Plan B: If the breakout above $0.2260 fails and volume declines, exit early.
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ADDITIONAL NOTES:
MACD Signal: Monitor MACD for a crossover (DIF crossing above DEA) to signal potential bullish momentum.
Volume Confirmation: Ensure any breakout (up or down) is supported by increased trading volume.
Risk Management: Keep risk/reward ratio at least 1:2 to ensure profitable trades.
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