Price: 0.787 | EMA7: 0.8 | EMA25: 0.82 | RSI14: 32.77 | Resistance: 0.879 | Support: 0.758 | Average Volume: 316060.89 | Volume Trend: Decreasing
Based on the provided information, here's the technical analysis and my advice:
1. Long (Buy) Entry Price: Wait for the price to cross above the EMA25 (0.81605052994368) and hold above it for some time. Take a long position when the price consolidates above the EMA25, indicating potential bullish momentum.
2. Short (Sell) Entry Price: Monitor the price's pullback toward the EMA7 (0.79645409788132) or the Support level (0.758). When the price successfully breaks below the EMA7 and holds there, consider going short.
3. Spot Buy Price: Monitor the price's fluctuation around the Support (0.758) level. Look to buy once the price stabilizes above the Support level, indicating potential bullish reversal.
4. Take Profit (TP) Target: Take profit targeting around the recent highs near the Resistance level (0.879), or higher as per the given price action and target breakout levels.
5. Stop Loss (SL) Level: Keep a stop-loss order set slightly below the Support level (0.758) for long positions and slightly below the recent lows for short positions. This will help protect your capital in case of a temporary price reversal.
6. Consider the broader market and other technical indicators: When making these entry and exit decisions, also consider broader market trends, Moving Averages, Relative Strength Index (RSI), and MACD to ensure a well-balanced trading decision. During a bearish trend or declining EMA levels, the trade may be less advisable. Similarly, during an overall bullish trend and increasing EMA levels, seek opportunities to go long.