The Daily trend is Bearish, but presents a prime opportunity for a bullish reversal as momentum shows signs of exhaustion. The price is currently trading near the lower Bollinger Band while the Daily RSI is deeply oversold below 30, signaling that sellers are overextended and a bounce is highly probable. The structure suggests a capitulation move that is ripe for a sharp mean reversion.
The trigger for a high-probability long entry is now materializing on the lower timeframes. We are looking for the 1H RSI to firmly cross and hold above the 50 level, which would confirm that short-term momentum is shifting into bullish territory. This RSI cross, coupled with price action reclaiming the 1H 25-period EMA, serves as our precise entry confirmation.
The logic behind this trade is to front-run a larger timeframe reversal. By entering on the first confirmed sign of strength on the 1H chart (RSI > 50), we position ourselves at the beginning of a potential relief rally. The deeply oversold condition on the Daily chart provides the fuel for this move, making this a calculated, high-probability setup targeting a retest of the nearest daily resistance levels, which are the EMAs overhead.
Actionable Setup Now (LONG)
Entry: market at 0.12188
TP1: 0.1400
TP2: 0.1550
TP3: 0.1750
SL: 0.11850
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