Daily/4-hour trend looking bullish, with prices forming a series of higher highs and higher lows. The EMA moving averages (7, 25, 99) in the chart show a clear bullish arrangement and are sloping upwards, indicating that the overall market structure is very strong, providing macro background support for going long.
The current key entry trigger signal will be the 15-minute RSI indicator. After prices retraced from a high of 0.11199, the 15-minute RSI has dropped below the 50 midline. A high-probability long signal is to wait for the RSI to clearly **cross above 50**, which usually indicates the end of the pullback and that bullish momentum is about to resume. Currently, prices are seeking support between the key EMA moving averages, which is a typical trend pullback.
The logic for entering long now is that we are capturing the opportunity to buy on a pullback within a confirmed strong uptrend. Prices have retraced near dynamic support levels, providing us with a high-risk-reward entry point. As long as the higher time frame's ascending structure remains intact, going with the trend is the highest probability strategy. Waiting for the RSI to confirm the return of momentum will further increase the success rate of this trade.
Current executable setup (LONG)
Entry: Market price 0.10497
Take profit 1: 0.1065
Take profit 2: 0.1095
Take profit 3: 0.1119
Stop loss: 0.1014
