Weekly Analysis (W30)
Strategy: Short and Long Positions
1. Short Position:
Entry Point: Sell when the price reaches a level near the upper boundary and a downward trend is anticipated.
Target: Reach the lower support levels between 1.0 and 1.2 (or 1.3).
Stop-Loss: If the price breaks above the red line (a critical resistance level) to minimize potential losses.
2. Observation and Evaluation:
Red Line: Represents a critical resistance level. A break above it could indicate a trend reversal or a significant correction.
No Trades: If the red line is breached, no new positions will be opened. The price movement will be observed to determine if it is a short-term correction or a long-term trend reversal.
3. Long Position:
Entry Point: After reaching the support levels (1.0 to 1.2 or 1.3), a buy will be considered once an upward trend is confirmed.
Target: The upper boundary at 2.0.
Hold Position: The long position will be held until the upper boundary is reached.
Summary:
The strategy initially involves opening a short position and profiting from an expected drop to the support levels at 1.0 to 1.2 (or 1.3). If the price breaks the red line, no new positions will be opened, as this could indicate a trend reversal or a short-term correction. After reaching the support levels and confirming an upward trend, a long position will be opened and held until the upper boundary at 2.0 is reached.