Let's dive into analyzing this currency on the four-hour charts and prepare for future positions. 🤝
Currently, this currency is still in its parabolic movement on the four-hour chart, indicating an upward trend. It has recently reached a weekly resistance level of around 59.05. 📈
Breaking through a weekly resistance level usually signals a reliable upward trend in the market, which we may witness with this currency. 💪
Our initial target on the four-hour chart is the resistance line at 63.33, which has been retested, and the next target is the line at 67.50. 🎯
Set your stop-loss based on your trading strategy, but it's appropriate to have a wider stop-loss for breaking through the weekly resistance level. This aligns with the risk-to-reward ratio and is effective risk management. ⚠️
If the volume of this currency increases after breaking through this resistance line, accompanied by the RSI entering the overbought zone, it will serve as confirmation for our position. 📈
This analysis will be updated over time. 🔄
Please note that I am just an analyst and this is not financial advice. Let's work together to achieve more profit while adhering to the principles of capital and risk management. 🚀"
Currently, this currency is still in its parabolic movement on the four-hour chart, indicating an upward trend. It has recently reached a weekly resistance level of around 59.05. 📈
Breaking through a weekly resistance level usually signals a reliable upward trend in the market, which we may witness with this currency. 💪
Our initial target on the four-hour chart is the resistance line at 63.33, which has been retested, and the next target is the line at 67.50. 🎯
Set your stop-loss based on your trading strategy, but it's appropriate to have a wider stop-loss for breaking through the weekly resistance level. This aligns with the risk-to-reward ratio and is effective risk management. ⚠️
If the volume of this currency increases after breaking through this resistance line, accompanied by the RSI entering the overbought zone, it will serve as confirmation for our position. 📈
This analysis will be updated over time. 🔄
Please note that I am just an analyst and this is not financial advice. Let's work together to achieve more profit while adhering to the principles of capital and risk management. 🚀"