TECHNICAL ANALYSIS!!!
1. Current Price and Trend:
Current price: $169.19
24h High: $177.60
24h Low: $159.12
2. Moving Averages (MA):
MA(5): $1,106.187
MA(10): $1,022.548
MA(60): $168.84 (near current price, indicating potential support)
3. MACD:
MACD line and signal line are close to zero, indicating a potential consolidation phase.
Trading Strategy
LONG POSITION:!!
1. Entry Point:
Enter at or near the support level around $168.84.
2. Take Profit (TP):
TP1: $173.00 (near recent resistance)
TP2: $177.00 (24h High)
3. Stop Loss (SL):
SL: $165.00 (below recent support levels to minimize risk)
4. Trade Duration:
Short to medium term (1 day to 1 week)
5. Contingency Plans:
Plan A: If price moves sideways, hold the position and re-evaluate after 4 hours.
Plan B: If price drops to $165, exit to minimize losses.
Plan C: If price approaches $173 without significant resistance, adjust SL to $168 to secure some profits.
Plan D: If price breaks $177, consider trailing stop to ride the trend higher.
SHORT POSITION!!!
1. Entry Point:
Enter near resistance around $173.00.
2. Take Profit (TP):
TP1: $168.00 (near MA60)
TP2: $163.00 (next support level)
3. Stop Loss (SL):
SL: $175.00 (above recent resistance to limit risk)
4. Trade Duration:
Short to medium term (1 day to 1 week)
5. Contingency Plans:
Plan A: If price consolidates around $173, hold the position and re-evaluate after 4 hours.
Plan B: If price rises to $175, exit to minimize losses.
Plan C: If price drops to $168 without significant support, adjust SL to $172 to lock in some profits.
Plan D: If price breaks $163, consider trailing stop to maximize gains.
SUMMARY!!!
Long Entry: $168.84
Long TP1: $173.00
Long TP2: $177.00
Long SL: $165.00
Short Entry: $173.00
Short TP1: $168.00
Short TP2: $163.00
Short SL: $175.00
These strategies are based on the current technical indicators and market conditions. Always stay updated with market news and changes, and adjust your strategy accordingly.
