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To identify trade entry points during a reversal, traders can use the following strategies:
1๏ธโฃWait for Confirmation: Look for a strong reversal candlestick pattern such as a hammer or engulfing pattern to signal a potential change in direction.
2๏ธโฃUse Technical Indicators: Utilize indicators like the RSI or MACD to confirm a shift in momentum during a reversal.
3๏ธโฃMonitor Support and Resistance Levels: Look for the price to break through key support/resistance levels, followed by a retest, to validate the reversal and consider entry points.
Combining these methods can help traders identify optimal entry points during a reversal.
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