The price is hovering near potential breakout levels around 0.565. The last candle shows some upward momentum.
The downtrend line indicates resistance that the price is approaching. A breakout above this level could signal a bullish move.
Buy on Breakout: If the price breaks above 0.565, this could serve as a trigger to enter a long position.
Set your stop loss at 0.470, just below the significant support based on past price actions. This provides a buffer against potential losses.
Ensure that the risk-to-reward ratio is favorable. With an SL set at 0.470, you’re risking approximately 0.095 per share for a potential gain of 0.065 to 0.170 (depending on which TP level is hit).
Adjust position size according to your risk appetite and portfolio size.
Keep an eye for a clear breakout above 0.565 while monitoring volume spikes for confirmation. Ensure to manage your risk effectively with a well-defined stop loss and take profit levels.
The downtrend line indicates resistance that the price is approaching. A breakout above this level could signal a bullish move.
Buy on Breakout: If the price breaks above 0.565, this could serve as a trigger to enter a long position.
Set your stop loss at 0.470, just below the significant support based on past price actions. This provides a buffer against potential losses.
Ensure that the risk-to-reward ratio is favorable. With an SL set at 0.470, you’re risking approximately 0.095 per share for a potential gain of 0.065 to 0.170 (depending on which TP level is hit).
Adjust position size according to your risk appetite and portfolio size.
Keep an eye for a clear breakout above 0.565 while monitoring volume spikes for confirmation. Ensure to manage your risk effectively with a well-defined stop loss and take profit levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.