Trade Setup:
Entry Price: Immediate entry at $0.1969 (current market price).
Stop-Loss: Place at $0.1833
Take-Profit Target: $0.2385, based on the 1.618 Fibonacci extension.
Why Immediate Entry Works:
Bullish Continuation: The price is consolidating near the 0.5 Fibonacci retracement, which is often a strong level for a continuation move.
Support Confirmation: The 200 SMA at $0.1829 is a reliable dynamic support level, adding confidence to the bullish bias.
Momentum Potential: An upward bounce from the current levels suggests a possible rally toward the 1.618 extension at $0.2385.
Entry Price: Immediate entry at $0.1969 (current market price).
Stop-Loss: Place at $0.1833
Take-Profit Target: $0.2385, based on the 1.618 Fibonacci extension.
Why Immediate Entry Works:
Bullish Continuation: The price is consolidating near the 0.5 Fibonacci retracement, which is often a strong level for a continuation move.
Support Confirmation: The 200 SMA at $0.1829 is a reliable dynamic support level, adding confidence to the bullish bias.
Momentum Potential: An upward bounce from the current levels suggests a possible rally toward the 1.618 extension at $0.2385.
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