Price has formed a double pattern on daily chart. while the RSI is making higher lows which is clear sign of RSI Bullish Divergence. We can take long trade.
Entry We can go long on open of next candle.
Target Target 1 will be the nearest resistance zone which will be also the neckline of W pattern as marked on chart. Target 2 will be next next resistance zone after the neckline of W pattern is broken as marked on chart.
Stoploss We can keep stoploss below the double bottom support zone.
👍 Great analysis! It's clear that you've taken the time to thoroughly analyze the daily chart and identify the bullish divergence in the RSI. Your plan for taking a long trade with specific entry, target, and stop-loss levels shows a well-thought-out strategy. Keep up the good work!