INDICATORS OBSERVED!
1. Price: $181.24, up by +3.17%.
2. Moving Averages (MA):
MA(5): Short-term trend indicator; current price is close, indicating potential short-term movement.
MA(10) and MA(60): Reflect medium and longer-term trends.
3. MACD:
MACD is slightly above the signal line (indicating weak bullish momentum).
MACD Histogram is flat, suggesting limited momentum, possibly sideways movement.
STRATEGY!
1. Long Position:
Entry Point: If price breaks above $183 with strong bullish volume, it could indicate continuation.
Take Profit (TP): Around $190, which is a psychological and potential resistance level.
Stop Loss (SL): $178, below recent support levels, to avoid substantial loss if the trend reverses.
2. Short Position:
Entry Point: If price falls below $180 with increased selling volume.
Take Profit (TP): Around $174, aligned with recent lows.
Stop Loss (SL): $183, above recent highs, to limit potential losses.
Trade Duration: Based on these setups, a short-term trade of 1-2 days is advisable due to the sideways trend and weak momentum.
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CONTINGENCY PLANS (A, B, C, D)
1. Plan A (Initial Plan):
Enter long/short as per breakout levels with SL and TP in place.
2. Plan B (If Signal Fails Initially):
If price retraces to entry level without clear direction, wait for confirmation candles to add to position or exit.
3. Plan C (If Major Reversal):
If price moves against position by 2-3% and breaks through SL, close position and wait for a re-entry signal at new levels.
4. Plan D (Exit on Stagnation):
If price moves sideways without hitting TP/SL for extended period, exit with partial profit/loss to avoid overexposure.
Always monitor volume and momentum indicators for any sudden shift in trend. Let me know if you'd like further details on any part!
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