Insights

Trading Plan (Spot Trading): Entry Point: Aggressive Entry: At current price (2.3866), expecting a breakout above 2.4358 (upper Bollinger Band ). Conservative Entry: Wait for a retracement to 2.3450 - 2.3500 (Bollinger Band midline or EMA level). Take-Profit Levels: 1. Short-Term Target: 2.4358 (upper Bollinger Band). Reason: This is the immediate resistance. 2. Extended Target: 2.4966 (recent high). Reason: Break above the Bollinger Band may target this level. 3. Long-Term Target: 2.5500 (psychological level). Stop-Loss: Place a stop-loss slightly below the recent swing low at 2.3000. Reason: A break below this level could signal further downside momentum. --- Risk Management: Risk-to-reward ratio: Aim for 1:2 or better (risk $0.10 to gain $0.20+). Adjust stop-loss if price moves in your favor (trailing stop-loss near 2.3450 after breaching 2.4358).