### 1. Trend Analysis
- Current Price: $2,910.82, showing a positive daily change of +2.44%.
- Moving Averages:
- MA(5): Short-term trendline at 189.12 (may indicate short-term movements).
- MA(10): Mid-term trendline at 224.51.
- MA(60): Major trend support/resistance level at 2,906.99.
The price is hovering near the 60-period moving average, suggesting that the current price is at a strong support level.
### 2. Volume and Market Sentiment
- The trading volume shows spikes in both green (buying) and red (selling) candles, indicating active market participation.
- A larger green candle volume bar might indicate bullish momentum, while a larger red candle might show a bearish sentiment shift.
### 3. Potential Entry and Exit Points
- Long Entry:
- Entry: If the price holds above the 60-period MA (2,906.99), it could indicate that support is strong, and there may be potential for a bullish move.
- Target Price (TP): Aim for levels around recent highs, such as $2,950 or slightly above $3,000 if the bullish momentum continues.
- Stop Loss (SL): Place the SL just below the 24-hour low or the 60-period MA, around $2,850, to minimize risk.
- Short Entry:
- Entry: If the price drops below the 60-period MA, this could indicate a bearish signal.
- Target Price (TP): Target previous support levels, such as $2,850 or lower, depending on momentum.
- Stop Loss (SL): Place the SL above recent highs, around $2,950 to $2,970.
### 4. Trade Duration
- Given the 15-minute chart timeframe, these trades would be more suited for short-term to medium-term (intra-day or a few hours).
- Monitor the hourly and daily charts for confirmation if holding for a longer duration.
### 5. If Signals Reverse
- If in a Long Position:
- If the price dips below your SL, it’s advisable to exit to protect capital.
- Consider re-entering only if the price shows strong recovery above the 60-period MA.
- If in a Short Position:
- If the price moves above your SL, exit to prevent further losses.
- Consider re-entering only if there’s a strong rejection of higher levels, signaling a bearish reversal.
### 6. Risk Management
- Aim for a Risk-Reward Ratio (RRR) of 1:2 or better to ensure that potential profits outweigh risks.
- Limit exposure by risking only a small portion of your portfolio per trade (usually 1-2%).
