Graphic Analysis:


1. Target and Prices:


• The chart shows a 5-wave Elliott Wave Formation.


• The 20.00 level has been indicated as the 5th wave target.


• The price is currently trading at around 0.88.


2. Support and Resistance Levels:


• Supports:


• The 0.40 – 0.60 region appears to be an important support area.


• Price reversals have occurred at these levels before.


• The 0.1296 level is marked as a potential area for entry.


• Resistors:


• The first significant resistance is at the 1.50 level.


• Then, the 3.50 and 8.00 levels stand out as strong resistance areas.


3. Indicators:


• There is no indicator information on the chart, but:


• Momentum indicators such as RSI can be used. Caution should be exercised in overbought areas.


• An upward crossover of moving averages may confirm an uptrend.


4. Formations and Formation Reversals:


• According to Elliott Wave Theory, the 4th wave is complete and the 5th wave appears to have begun.


• This indicates that the upward trend will continue.


• After the breakout, rapid movement to target areas can be expected.


5. Trend Direction:


• The current trend is upward. A new uptrend has started after the 4th wave.


• However, in the short term, the price is likely to test the support areas.



Strategy Proposal:


1. Short Term Strategy:


• Buying at support levels: If the 0.60 and 0.40 areas are approached, buying opportunities can be evaluated.


• Stop Loss: Using a stop loss below the 0.40 level minimizes the risk.


2. Medium and Long Term Strategy:


• Positions can be carried up to the 20.00 level, which is the target of the Elliott Wave Formation.


• However, gradual profit taking can be done at levels of 1.50, 3.50 and 8.00.


3. Risk Management:


• Positions should be opened with a small percentage of the total capital.


• Attention should be paid to sudden price fluctuations in areas with low transaction volume.



Conclusion:



This chart indicates a strong upside potential. However, it should be noted that the price may make short-term corrections. It is important to trade in a planned and patient manner, focusing on support levels.