Trade Setup for $USUAL
Current Price: 0.2031#
Support and Resistance Zones
1. Support Zone: The lowest price in recent history has been 0.1781, making this a solid support level. Additionally, 0.1950 can also act as a minor support based on recent price behavior.
2. Resistance Zone: The most recent price rejection occurred near 0.2157, making it the primary resistance. A secondary resistance is 0.2065, where the price has struggled to break higher.
Recommended Trade Setup:-
Entry:
You can consider entering a long position at 0.2025 - 0.2050 . This is close to the current price level, providing a favorable entry point near support.
Stop-Loss (SL):
Set your stop-loss just below the 0.1950 level, around 0.1920, as a break below this could signify further downside potential.
Take-Profit (TP) Levels:
TP1: 0.2157 (Resistance level and the Fibonacci 0.382 level)
TP2: 0.2330 (Near the Fibonacci 0.618 level, a major resistance point)
TP3: 0.2599 (The recent swing high)
It's just a reminder that please go with low leverage and low margin as the market is very much volatile
Best of Luck, TPs will be hit.