Can the price cross the weekly EMA200?
Looking at the weekly timeframe chart, we can observe the price reactions to the gray area. The gray area could act as a strong support zone. Therefore, I will place my stop-loss below the gray area.
Historically, the price has unsuccessfully tested the resistance at 0.0093. However, considering the strong trend and the powerful first leg, there is a possibility of breaking through the 0.0093 resistance level. Therefore, I will close a portion of my position at 93 and the remaining portion at the 0.01018 resistance test.
TP1: 0.0093
TP2: 0.01018
SL: 0.007
Historically, the price has unsuccessfully tested the resistance at 0.0093. However, considering the strong trend and the powerful first leg, there is a possibility of breaking through the 0.0093 resistance level. Therefore, I will close a portion of my position at 93 and the remaining portion at the 0.01018 resistance test.
TP1: 0.0093
TP2: 0.01018
SL: 0.007
Trade active
Trade closed: target reached
Trade closed: target reached