Technical analysis by timeframe
⏱️ 15-minute timeframe (M15)
Trend: Slight uptrend, price fluctuating around $1.27.
Indicator: RSI near 60, indicating weak upward momentum.
Strategy: Wait for clearer trend confirmation before entering a trade.
🕐 1-hour timeframe (H1)
Trend: Short-term uptrend, price breaks through resistance level of $1.20.
Indicator: MACD crosses above the signal line, confirming the uptrend.
Strategy: Consider entering a Long position if the price maintains above $1.25.
🕓 4-hour timeframe (H4)
Trend: Strong uptrend, price breaks through a descending wedge pattern.
Indicator: RSI above 70, indicating the market is overbought.
Strategy: Be cautious of potential short-term correction.
📅 1-day timeframe (D1)
Trend: Long-term uptrend, price rebounds from a low of $0.82.
Indicator: Both MACD and RSI support the uptrend.
Strategy: Consider holding Long position if the price maintains above $1.20.
Trading strategy
📈 Long (Buy) order
Entry: $1.25
Stop Loss (SL): $1.14
Take Profit (TP): $1.35
Probability of success: 70%
Reason: Uptrend confirmed across multiple timeframes, increased trading volume.
📉 Short (Sell) order
Entry: $1.35
Stop Loss (SL): $1.42
Take Profit (TP): $1.20
Probability of success: 40%
Reason: RSI indicates the market is overbought, potential short-term correction.
Conclusion
The overall trend of WLD is currently upward.
Long strategy has a higher probability of success.
Need to closely monitor support and resistance levels to adjust strategy accordingly.
Note: The cryptocurrency market is highly volatile, risk management is essential.