KEY 🗝️ OBSERVATIONS
1. Price Trend:
The price has recently spiked above the MA60 (1.718), indicating potential bullish momentum.
2. MACD:
The DIF (0.003) and DEA (0.002) are slightly positive, showing the start of bullish divergence.
The MACD histogram is small, implying momentum is building but not yet strong.
3. Volume:
Recent volume spikes show buying activity, aligning with the upward price movement.
4. 24-Hour High/Low:
High: 1.753, Low: 1.590. The price is approaching the upper range, signaling resistance.
TRADING PLAN
Long Entry (Bullish Scenario)
Entry Point:
Buy around 1.720-1.735, near the MA60 support, as the price is sustaining above it.
Take Profit (TP):
TP1: 1.750 (24h high and first resistance).
TP2: 1.800 (psychological resistance, if the breakout continues).
Stop Loss (SL):
1.690 (below recent support and MA60).
Confirmation:
Ensure MACD DIF > DEA and increasing histogram bars.
Short Entry (Bearish Scenario)
Entry Point:
Sell near resistance at 1.750-1.760 if rejection occurs.
Take Profit (TP):
TP1: 1.700 (near MA60 and recent support).
TP2: 1.650 (stronger support level).
Stop Loss (SL):
1.780 (above resistance).
CONTINGENCY PLANS
1. Plan A: If price breaks above 1.753, consider a long position targeting 1.800 with a tight SL at 1.730.
2. Plan B: If MACD crosses bearish (DIF < DEA) and price falls below MA60, prioritize short positions targeting 1.650.
3. Plan C: Monitor volume. A significant drop in volume might indicate a reversal or consolidation.
4. Plan D: Use 15m and 1h timeframes for micro trends to fine-tune entry and exit points.
RISK MANAGEMENT
Risk per trade: 1-2% of capital.
Adjust position size based on SL distance.
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