Sniping a quick trade on the hourly chart 🚨🚨🥳✅🪄⬇️

Here are some ideas for an entry and stop loss based on visual analysis:

1. Entry point:

• The price appears to be trading near the lower bound of the Bollinger Bands indicator (yellow line), which could indicate a buying opportunity if you expect an upward reversal. A buy trade can be entered around the current price of 61,089 or after confirming the price bounce.

2. MACD indicator:

• The red line is below the blue line, indicating bearish momentum, but this could be an indication that the downward move is nearing its end if the lines overlap again.

3. Stochastic RSI indicator:

• The indicator appears to be close to the bottom at 7.0, which means it is in the oversold zone, and a bullish reversal could be imminent.

4. Stop Loss:

• It is best to place your stop loss below the recent low of the price, which is 60,800.2, to reduce risk. Your stop loss may be slightly below this point to avoid hitting it easily, for example at 60,600.

🚨TRADE🚨

• Entry point: 61,089 (or after confirmation of the reversal).

• Stop loss: 60,600.

• Profit target: You may target a return to the average price at 62,000 - 62,500 based on the resistance shown on the chart.

Want more details or an update on the analysis?