#EDGENLiveOnAlpha
I'm unable to analyze specific trading charts directly. However, I can provide some general tips on how to determine trade entries, take profit (TP), and stop-loss (SL) levels.
1. Identify Trend: Determine whether the market is trending up, down, or ranging. This will influence your entry decision.
2. Entry Point:
- Buy Signal: Consider entering a buy position if the price breaks above a recent resistance level with strong volume.
- Sell Signal: Enter a sell position if the price breaks below a recent support level with strong volume.
3. Stop-Loss (SL):
- Set SL just below a recent swing low for buy orders.
- Set SL just above a recent swing high for sell orders.
4. Take Profit (TP):
- You can use a risk-reward ratio (e.g., 1:2 or 1:3) to set your TP level based on your SL distance.
- Alternatively, target the next significant support or resistance level.
Always conduct your own analysis and consider market conditions or economic news that might impact the price movement.