$CHIP
Direct entry now (Buy/Long): It involves high risk (FOMO) because you are buying near the peak and a key resistance level, with an elevated RSI indicator.
Either wait for a retest: wait for a minor pullback toward nearby support zones (between 0.04700 and 0.04800) to enter with a defined stop-loss.
Or wait for a positive close: wait for an hourly candle to close firmly above the previous high 0.05050 to confirm the resistance breakout and the continuation of the upward momentum.
Warning: It is always best to set a Stop Loss below the nearest support level (e.g., 0.04710) to reduce risk before opening any trade.
Direct entry now (Buy/Long): It involves high risk (FOMO) because you are buying near the peak and a key resistance level, with an elevated RSI indicator.
Either wait for a retest: wait for a minor pullback toward nearby support zones (between 0.04700 and 0.04800) to enter with a defined stop-loss.
Or wait for a positive close: wait for an hourly candle to close firmly above the previous high 0.05050 to confirm the resistance breakout and the continuation of the upward momentum.
Warning: It is always best to set a Stop Loss below the nearest support level (e.g., 0.04710) to reduce risk before opening any trade.