💡 Strategic Trading Plan
The strategy is range trading (sideways) until the resistance level of $0.4000 is breached, or the support level of $0.3400 is broken.
🎯 Potential price targets and buy/sell areas
• Suggested buy areas (support):
The support zone within the sideways range is between $0.3400 and $0.3550.
• Near price target (initial resistance):
The primary objective is to test the main resistance at $0.3900 to $0.4000.
• Strategic objective (extension):
The strategic and ambitious objective, which requires a firm break of the $0.4000 barrier, is $0.4200 then $0.4500.
• Suggested selling areas:
The area above $0.3900 is a good selling area for speculation within the range, or partial profit-taking for those who entered early.
🧭 Scenario targets and trader recommendations
1. Bullish scenario (what will happen to the currency):
The currency will see a strong surge towards $0.4500 if buyers succeed in breaking $0.4000 and maintaining the price above it.
2. Bearish scenario:
If the price falls below $0.3400, a deeper correction is expected to bring the price back to the $0.3000 area.
3. Recommendations for traders:
A stop-loss should be placed under $0.3300. It is advised to wait and avoid entering in the middle of the sideways range; the best is to buy from support or after confirming the breakout.
