### Long Position Strategy
1. Entry Point:
- Enter at support zones around $4.20–$4.35, where buying interest is visible.
- Confirm entry after a bullish candlestick pattern or an increase in volume.
2. Take Profit (TP):
- TP1: $4.80 (recent resistance).
- TP2: $5.00 (psychological level and key resistance).
- TP3: $5.40 (extension from Fibonacci retracement).
3. Stop Loss (SL):
- Place SL slightly below $4.00 (previous swing low).
4. Trade Duration:
- Short-term: 1–3 days for TP1.
- Medium-term: 5–10 days for TP2 or TP3, depending on momentum.
5. Contingency Plan:
- If the price breaks below $4.00, avoid adding to the position. Reassess near $3.80 or lower support.
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### Short Position Strategy
1. Entry Point:
- Enter near resistance zones around $4.80–$5.00, especially if momentum weakens or a bearish reversal pattern forms.
2. Take Profit (TP):
- TP1: $4.50 (recent support).
- TP2: $4.20 (lower support zone).
- TP3: $3.80 (strong support level).
3. Stop Loss (SL):
- Place SL slightly above $5.10 to account for potential false breakouts.
4. Trade Duration:
- Short-term: 1–2 days for TP1.
- Medium-term: 4–7 days for TP2 or TP3.
5. Contingency Plan:
- If price exceeds $5.10, cut losses and monitor for a stronger bearish setup.
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### Indicators to Monitor
- Relative Strength Index (RSI):
- Look for overbought/oversold conditions near entry points.
- Moving Averages (MA):
- Use the 50-day MA for trend confirmation.
- Volume:
- Ensure strong volume supports your trade direction.
