Long Entry on WAVESUSDT with PSAR Stop LossBased on the daily chart for WAVESUSDT on Bybit, we've identified a bullish setup for a long entry:
Indicators Used:
MLR (Moving Regression Line) in blue
SMA (Simple Moving Average) in pink
BB Center Line (Bollinger Bands Center Line) in orange
PSAR (Parabolic SAR) in black dots
200-period SMA in red
Entry Conditions Met:
The MLR is above the SMA, indicating a short-term bullish trend.
The MLR is above the BB Center Line, further confirming bullish momentum.
The PSAR dots are under the price, signaling a bullish trend.
The price is above the 200-period SMA, supporting a long-term bullish trend.
Entry Strategy: Enter a long position on WAVESUSDT given these bullish signals.
Stop Loss (SL): Set the stop loss at the current level of the PSAR dots. This ensures that if the price reverses and hits the PSAR level, your position will be closed to minimize losses.
Risk Management: Adjust your position size according to your risk tolerance.
Monitor My Idea: Keep monitoring my idea for any changes in trend or for potential profit-taking opportunities.
Thank you !
