Technical analysis by Motivation_Voice about Symbol AIOZ: Buy recommendation (7/6/2024)

The chart you provided is a 4-hour Heikin Ashi candlestick chart for AIOZUSDT AIOZ Network (AIOZ) against Tether (USDT), taken from TradingView. Here's a breakdown of the chart and how to determine Take Profit (TP) and Stop Loss (SL) levels:Key Elements in the Chart:1. **Candlesticks**: The Heikin Ashi candlesticks are used to identify the trend. These candlesticks help smooth out price action and make it easier to spot trends and reversals.2. **LH (Lower High)** and **LL (Lower Low)**: These indicate a downtrend, where each high and low is lower than the previous one.3. **ChoCh (Change of Character)**: Indicates a potential reversal in trend.4. **BOS (Break of Structure)**: Indicates a significant change in the market structure, suggesting a trend reversal or continuation.5. **Current Price**: The current price of AIOZ is shown as 0.48520 USDT.Determining Take Profit (TP) and Stop Loss (SL):To set effective TP and SL levels, consider the following:**Support and Resistance Levels:**- **Support Level**: Around 0.40000 USDT, identified by the lower lows (LL) and BOS points.- **Resistance Level**: Around 0.62000 USDT, identified by the lower highs (LH).**Trend Analysis:**- The chart shows a recent uptrend following the BOS, indicating a potential trend reversal to the upside.Setting TP and SL:**Stop Loss (SL):**- **Conservative Approach**: Place the SL just below the recent support level, around 0.39000 USDT. This level should be slightly below the lowest recent LL point to account for minor price fluctuations.**Take Profit (TP):**- **Initial Target**: Place the TP at the next significant resistance level, around 0.60000 USDT. This level is identified by the previous LH points.- **Extended Target**: If you anticipate a stronger move, an extended TP could be set at the next higher resistance level, around 0.70000 USDT.Example TP and SL Placement:- **Entry Price**: Current price at 0.48520 USDT.- **SL**: 0.39000 USDT (below the recent LL).- **TP**: 0.60000 USDT (initial target based on previous LH).Risk Management:Ensure the risk-to-reward ratio is favorable (at least 1:2). For example, if risking 10% (SL at 0.39000 USDT), aim for a minimum of 20% gain (TP at 0.60000 USDT).Visual Summary:- **SL**: 0.39000 USDT- **TP**: 0.60000 USDTThis approach helps in maintaining a disciplined trading strategy while mitigating risks. Adjust these levels based on real-time market conditions and your risk tolerance.Update AIOZ/USDTTP ✅+26.95% Profit