We are a major support level that can be easily observed in the day chart. With technicals in play I sentiment a pivot.
MACD/SIGNAL have crossed and are moving sideways towards 0 line while RSI made a sharp pivot out oversold zone (hence the high volume we just saw). RVI diverted towards 0 line which will increase volume and momentum.
Take profit 1 at first key resistance 1.5300 and take profit 2 at 1.53800. Stop loss with a close out below key support of 1.50500.
I suggest entering 3 entries and closing out the first at TP 1 and let the trend ride. Close second if there is a sharp pivot and let the third ride trend.
Please comment with thoughts and ideas. Thank you.