Week 3 Line Charts Idea 3: MEBL RSI analysisThis analysis combines RSI (Relative Strength Index) analysis with Fibonacci retracement levels on the MEBL line chart to formulate a comprehensive trade plan.
Trade Plan:
Entry Price/Buy Limit: 209.02
Stop Loss: 194.40
Lot Size: 68
Take Profit Targets (TP):
TP1: 223.64 with Risk-Reward Ratio (RR) 1%
TP2: 238.26 with RR 2%
RSI indicates that there is no divergence, as it is parallel with the bullish trend. This supports the continuation of the trade plan based on Fibonacci retracement.
