The price broke 5000.00 strong resistance level
. We could buy above 5050.00 based on a breakout signal. If you missed such trading opportunity, let's think about new possible entry levels. Now we can see that MACD
lines and DMI confirm upward movement. But MACD
histogram and RSI
are going to reverse and it's a signal of possible price reversal with further retracement. How should we trade? First of all, there is a variant that the market can continue upward movement. In order to catch such price movement, it's possible to place pending orders for buy above the local high at 5450 level. But this is a high risky trade because 5500.00 level can stop and reverse the market. If you decide to use this signal and level for buying, you must invest only small part of your deposit. Buying at 5450.00 you must understabd that this entry level is too far from optimal levels for opening long trades. That's why we also should wait for retracement and buy from support lines or levels. Now the most reliable levels for buying are at the support zone
formed by 5000.00 and 4900.00 support levels and SMA20. If price dropes to this zone, we'll buy based on reversal signals. If the market breaks this support zone
and moves lower, we'll also have to be ready open new long trades but on lower levels. In such way SMA50 will be a good support line. Buying from SMA50 should be based on confirmed reversal signals. Don't forget that money management plays a very important role. Don't invest all your money in one trade and a market.