Trend & Structure
Price appears to be forming higher lows (as shown by the ascending trendline).
The 50 EMA (red line) is now below the price, suggesting a potential shift in momentum.
92 % Probability signal indicating bullish momentum building up.
Key Levels
Support: Around the ascending trendline near 0.54–0.56.
Resistance: Notable resistance levels near 0.60–0.62 and higher at 0.65–0.70.
Proposed Long Entry
🚀 Entry (Long): Consider entering around the current price (0.56–0.57) or on a small pullback toward the trendline (if it retests around 0.55–0.56).
Stop Loss
🛑 Stop Loss: Place a stop below the ascending trendline or a recent swing low to protect against a breakdown.
An example might be near 0.53 or slightly lower, depending on your risk tolerance.
Profit Targets
🎯 Target 1: 0.60–0.62 (near recent highs / local resistance).
🎯 Target 2: 0.65–0.70 (if momentum continues and breaks through the first resistance zone).
Risk Management
Use position sizing that limits your account risk to 1–2% (or your preferred level).
Consider moving your stop loss to breakeven once price reaches the first target or forms a new higher low.
Price appears to be forming higher lows (as shown by the ascending trendline).
The 50 EMA (red line) is now below the price, suggesting a potential shift in momentum.
92 % Probability signal indicating bullish momentum building up.
Key Levels
Support: Around the ascending trendline near 0.54–0.56.
Resistance: Notable resistance levels near 0.60–0.62 and higher at 0.65–0.70.
Proposed Long Entry
🚀 Entry (Long): Consider entering around the current price (0.56–0.57) or on a small pullback toward the trendline (if it retests around 0.55–0.56).
Stop Loss
🛑 Stop Loss: Place a stop below the ascending trendline or a recent swing low to protect against a breakdown.
An example might be near 0.53 or slightly lower, depending on your risk tolerance.
Profit Targets
🎯 Target 1: 0.60–0.62 (near recent highs / local resistance).
🎯 Target 2: 0.65–0.70 (if momentum continues and breaks through the first resistance zone).
Risk Management
Use position sizing that limits your account risk to 1–2% (or your preferred level).
Consider moving your stop loss to breakeven once price reaches the first target or forms a new higher low.
Trade active
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.