📋Trade Plan:
Primary Plan
(Bullish Reversal):🔥
Entry: Wait for bullish confirmation at 2.1 (e.g., a hammer or bullish engulfing on the 1D or 4H chart). Enter at 2.1100 or above if the price shows strength.
Stop-Loss: 2.0500 (below the prior swing low of 2.0587).
Take-Profit:
TP1: 2.2594 (38.2% Fibonacci retracement).
TP2: 2.3833 (61.8% Fibonacci retracement).
Risk-to-Reward: 2.49:1 (as calculated above).
Monitoring: Watch for resistance at 2.2 (order book) and MA(50) at 2.3497.
Alternative Plan
(Bearish Continuation):🔥
Entry: If the price breaks below 2.1 and 2.0587, enter a short at 2.0587.
Stop-Loss: 2.1300 (above the PRZ).
Take-Profit:
TP1: 1.9000 (order book support).
TP2: 1.6000 (next support).
Risk-to-Reward: 2.23:1 (as calculated above).
Monitoring: Watch for support at 1.9 and 1.6. Be cautious of oversold RSI triggering a bounce.
