To determine entry points on this chart, you need to consider the following factors:
Support and Resistance Areas:
Support: The area around 656.64 (blue horizontal line), where the price has recently reacted and bounced up.
Resistance: The area around 730.27 (red dashed line) and higher at 793.86.
EMA Line:
The EMA lines (7, 34, 90, 200, 365) indicate that the short-term trend is recovering after a significant decline.
EMA 7 (682.64) is acting as the nearest resistance. When the price exceeds this EMA, it could be a short-term bullish signal.
Price Action:
If the price holds above the support level of 656.64 and forms a bullish candle pattern (such as bullish engulfing), you may consider entering a buy order.
If the price is rejected at the EMA or resistance at 730.27, it could be a sell signal.
Trading Volume (24h Volume):
Increasing trading volume as the price approaches support/resistance may confirm the upcoming trend.
Entry Strategy:
Buy: When the price breaks and closes above EMA 7 (682.64) with high volume, the target is the area of 730.27.
Sell: If the price breaks below support 656.64, the target is the area of 583.00.