Close 50% in profit and SL move to break even.

$ETH

Key Observations
1. Price & EMAs:
- 5m Chart: Price (≈2,756.71) is between EMA(7) (2,753.93) and EMA(25) (2,757.30). A break above EMA(25) could signal short-term bullish momentum.
- 15m Chart: Price (2,796.87) is above EMA(99) (2,761.56), indicating a bullish bias on higher timeframes.
2. Volume:
- Current volume (232.5K) is below the 5-period MA (995.4K), suggesting weak participation. A surge in volume is needed to confirm momentum.
3. Support/Resistance:
- Immediate Resistance: 2,784.33 (previous swing high).
- Strong Resistance: 2,801.87 (24h high).
- Support Levels: 2,749.25 (near EMA cluster) and 2,726.71.
4. Price Action:
- Recent +2.85% uptick shows bullish momentum, but consolidation between EMAs on the 5m chart requires confirmation.
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Trade Setup
Entry Trigger:
- Bullish Breakout: Price sustains above EMA(25) (2,757.30) on the 5m chart with rising volume.
- Confirmation: Close above 2,761.56 (15m EMA(99)) to align with higher timeframe trend.
Take Profit (TP):
- TP1: 2,784.33 (first resistance).
- TP2: 2,801.87 (strong resistance; partial profit here).
Stop Loss (SL):
- Place SL below 2,749.25 (key support level), risking ~0.3%.
Risk-Reward Ratio:
- 1:2 (SL: 7-10 pips, TP: 20-30 pips).
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Key Considerations
- Volume Confirmation: Wait for volume to exceed MA(5) (995.4K) to validate breakout strength.
- EMA Alignment: A bullish crossover (EMA7 > EMA25) on the 5m chart would strengthen the setup.
- Caution: Mixed signals on the 5m chart (price between EMAs) require patience. Avoid chasing price without confirmation.
Conclusion: Execute only if breakout aligns with volume surge and 15m bullish structure. Scalping requires tight risk management and quick decision-making.