$VIRTUAL
Complete Analysis with Long and Short Options
Based on the 4-hour and 15-minute timeframes, here are two scenarios for long and short positions complete with stop loss and profit targets.
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1. Open Long Scenario (Bullish Rebound)
Conditions:
Price is approaching the lower support area of Bollinger Bands (around 2.89 - 2.90).
MACD is starting to show potential for a bullish crossover on the 15-minute timeframe.
RSI is moving up from the neutral zone, indicating increased buying momentum.
Plan:
Entry Long: around 2.89 - 2.91.
Stop Loss: below strong support of 2.85 (to limit risk if price continues to decline).
Profit Target (TP):
TP1: 2.95 (short-term minor resistance).
TP2: 3.00 (next strong resistance).
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2. Open Short Scenario (Continued Bearish)
Condition:
The short-term trend (15 minutes) still shows a downtrend from the peak of 3.33.
The price failed to break through the middle line of the Bollinger Bands (MB: 2.9052) and bounced down.
Volume decreased as the price rose, indicating a weak bullish impulse.
If the price falls back below 2.88, the decline could continue to the next support.
Plan:
Entry Short: around 2.91 - 2.93 (temporary resistance area of Bollinger Bands).
Stop Loss: above 2.95 (if the price breaks through minor resistance).
Profit Target (TP):
TP1: 2.87 (nearest support of Bollinger Bands below the 15-minute timeframe).
TP2: 2.82 (next strong support).
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Risk Management Strategy:
For Long: Risk per entry: 4 cents with a potential profit of 6 - 11 cents.
For Short: Risk per entry: 4 cents with a potential profit of 4 - 9 cents.
Conclusion:
If the price breaks out above the middle line of the Bollinger Bands (2.9052), then Long is more ideal.
If the price fails to rise and instead falls below 2.88, then Short is a safer choice.
Keep monitoring the RSI, MACD, and volume indicators to ensure the momentum is right before making a decision.
