I opened a leverage long position over the weekend. I am planning to take profit at $4, $4.50 and $5. Stop loss is at $2.7
Reasons for a long position:
1) The price has pulled back and found a clear support at Fib .5 and EMA55.
2)The current chart set up is very similar to that in Jan 2025 (see green vertical line in the chart).
3) RSI is consolidating in the bull zone.
4) MACD lines are bunched up together and moving horizontally. However, the lines are in the bull zone and MACD histogram shows bear momentum is waning. It might be safer to wait for MACD lines to cross to the upside, but there are enough confluences for bullish bias.
5) The daily candle is now moving above Fib 0.236. Fib 0.236 often works as the last line of defence for the bear and if it is breached, it is very likely to move to the upside.
Reasons for a long position:
1) The price has pulled back and found a clear support at Fib .5 and EMA55.
2)The current chart set up is very similar to that in Jan 2025 (see green vertical line in the chart).
3) RSI is consolidating in the bull zone.
4) MACD lines are bunched up together and moving horizontally. However, the lines are in the bull zone and MACD histogram shows bear momentum is waning. It might be safer to wait for MACD lines to cross to the upside, but there are enough confluences for bullish bias.
5) The daily candle is now moving above Fib 0.236. Fib 0.236 often works as the last line of defence for the bear and if it is breached, it is very likely to move to the upside.
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Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.