Price: 4.74 | EMA7: 4.8 | EMA25: 4.86 | RSI14: 42.5 | Resistance: 5.606 | Support: 4.396 | Average Volume: 136422.86 | Volume Trend: Decreasing
Based on the provided technical analysis, here is my response:
- Best Long Entry Price: Wait for a solid retracement towards the support levels of 4.396 or in case the price breaks above EMA25 (4.8576054320882) with a confirmation signal from indicators like RSI or MACD.
- Best Short Entry Price: Look for a break below the support level of 4.396 and make sure to have other indicators supporting the potential bearish continuation, such as RSI or MACD readings below certain thresholds.
Some additional advice:
1. Monitor the volume trend closely and wait for a decrease in volume when considering a short entry. An increase in volume in a downtrend usually indicates a potential change in trend direction.
2. Keep an eye on moving averages like EMA7 (4.7978292722204) and EMA14 (4.7978292722204) for further confirmation of potential long or short entries.
3. Consider using stop-loss orders when executing trades to minimize potential losses in case the market turns against you.
4. Always do your own independent analysis and consult with a financial advisor before making any investment decisions.