XPL is currently sweeping the 0.0836 level, a crucial area of interest that could dictate the next move, and I'm watching this unfold with great interest as we're seeing a bullish bias play out in the higher time frames.
The technical analysis is clear: we're seeing a bullish trend in the higher time frames, with the RSI at 82 indicating overbought conditions, but the volume is only at 1.0x, which suggests that this move might not be exhausted just yet. The SMC Score of 4.1/10 is relatively low, but the order block zone we're in is a high-probability area for a reversal.
Here are the key trade levels:
- Entry: 0.08360
- Take Profit 1: 0.08551 (RR 1.7x)
- Take Profit 2: 0.08839 (RR 4.2x)
- Stop Loss: 0.08245
I'm long on $XPLUSDT, targeting 0.08551 for a quick profit, with a stop loss at 0.08245 to limit my risk.
Followers, keep a close eye on this trade, and remember to always manage your risk - let's ride this wave and see where it takes us.
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