$NXPC

Technical Overview:

1. Price Action:

The chart shows a massive bullish spike followed by steady downward movement.

The price is now consolidating in a tight range, suggesting indecision or accumulation.

2. Trend:

Short-term trend: Bearish.

Medium-term: Sideways consolidation.

Volume has decreased compared to the spike, indicating weakening momentum.

3. Support & Resistance:

Support Zone: Around $1.77 – $1.80 (24h low area).

Resistance Zone: Near $1.98 (24h high and previous breakdown area).

4. Candlestick Pattern:

Small-bodied candles and wicks on both ends indicate market indecision.

Potential for a breakout or breakdown depending on volume and sentiment.

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Intraday Trading Signal:

1. Entry Point ($):

$1.88 – $1.89 (current market price zone).

Only enter after a confirmation candle with strong bullish momentum (e.g., green candle closing above $1.90 on the 4H or 1H chart).

2. Stop Loss ($):

Below the key support: $1.76.

This accounts for false breakouts but keeps risk manageable.

3. Take Profit Targets ($):

Target 1: $1.95 (previous mini-high).

Target 2: $1.98 (resistance zone / 24h high).

Target 3 (optional): $2.05 (if bullish momentum continues past resistance).

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Risk/Reward (R:R) Consideration:

Entry: $1.89

Stop Loss: $1.76 (Risk = $0.13)

Target 1: $1.95 (Reward = $0.06)

Target 2: $1.98 (Reward = $0.09)

Target 3: $2.05 (Reward = $0.16)

Ideal R:R if aiming for T2 or T3.

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Recommendation:

This trade setup is suitable for scalp to short swing trading within a day.

Use tight risk control, especially in low-volume environments.

Monitor volume increase and breakout confirmation on lower timeframes (15m–1h) before entering.