$LAYER
Observation:
Downtrend: Price is still under MA(25) and MA(99), indicating a prevailing downtrend.
Short-term Bounce: Recent candles show some bullish pressure from the local low at $1.2617.
MA Cross: The yellow line (MA(7)) is turning up and might soon cross MA(25), which could hint at a short
Potential Long Entry Strategy:
1. Entry Point:
Consider entering above $1.38, once it shows strong volume and closes above both MA(7) and MA(25).
2. Confirmation:
Look for a bullish crossover (MA(7) crossing MA(25)) and rising volume.
Wait for at least 2 green candles above MA(25) for confirmation.
3. Stop-Loss:
Set SL just below the recent low at $1.25–$1.26 to limit downside risk.
4. Take Profit (TP) Zones:
TP1: Near $1.50 (near MA(25) resistance).
TP2: Near $1.63–$1.70 if momentum continues.
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Alternative Short Entry Strategy (If rejection occurs):
1. Entry: If price fails to break $1.38 and forms a bearish reversal candle, enter short.
2. Stop-Loss: Just above the rejection wick, around $1.40.
3. Take Profit: Revisit the recent low at $1.26 or slightly above.