The trend on the daily/4-hour chart looks bullish, with prices starting to reverse after forming an important bottom near 424.19. Currently, the price is consolidating bullishly within a higher time frame structure.
The core trigger point for entry is on the 15-minute chart. After breaking through the key EMA (99) moving average, the price is currently pulling back to the dynamic support area formed by the EMA (25) and EMA (99) moving averages. This is a typical healthy pullback in an upward trend. Meanwhile, the 15-minute RSI indicator has also pulled back from the overbought zone to near the 50 midline, currently at 54.54. As long as the RSI finds support at the 50 level and moves up again, it indicates that bullish momentum is re-accumulating. Entering at the EMA support level and RSI momentum reset point provides a high-probability opportunity to capture the next wave of upward movement.
Current executable setup (Long)
Entry: Market price 433.81
Take Profit 1: 440.00
Take Profit 2: 445.50
Take Profit 3: 450.00
Stop Loss: 430.50
$XMR
