Abo Moati (4191) – Potential Bullish Continuation Setup
After a strong rally toward SAR 42, Abo Moati has pulled back and is now stabilizing near SAR 38 — a key pivot zone that previously acted as both support and resistance.
We may be looking at a bullish continuation, as the price is attempting to form a higher low. A clean bounce from this zone could offer a favorable risk/reward setup for swing traders.
📊 Technical Context:
4H structure remains bullish after a steep correction
Price is testing a former breakout zone around SAR 38
Momentum is slowing down on the pullback — early signs of buyer interest re-entering
📈 Trade Idea:
Entry: SAR 37.80 – 38.20 (support zone confirmation)
TP1: SAR 41.00 (recent high)
TP2: SAR 43.80 (extension move)
Stop Loss: Below SAR 36.80 (invalidation of structure)
⚠️ Risk Note:
This is a trend-following continuation play, not a reversal. If price loses SAR 37.50 on strong volume, this setup becomes invalid.
🧠 Final Thoughts:
Watch for price action confirmation on the 4H or daily close before entering. No need to catch the exact bottom — let the market show its hand.
We may be looking at a bullish continuation, as the price is attempting to form a higher low. A clean bounce from this zone could offer a favorable risk/reward setup for swing traders.
📊 Technical Context:
4H structure remains bullish after a steep correction
Price is testing a former breakout zone around SAR 38
Momentum is slowing down on the pullback — early signs of buyer interest re-entering
📈 Trade Idea:
Entry: SAR 37.80 – 38.20 (support zone confirmation)
TP1: SAR 41.00 (recent high)
TP2: SAR 43.80 (extension move)
Stop Loss: Below SAR 36.80 (invalidation of structure)
⚠️ Risk Note:
This is a trend-following continuation play, not a reversal. If price loses SAR 37.50 on strong volume, this setup becomes invalid.
🧠 Final Thoughts:
Watch for price action confirmation on the 4H or daily close before entering. No need to catch the exact bottom — let the market show its hand.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.