The chart you've shared is a 4-hour BTC/USDT (Bitcoin to Tether) chart from Binance, published on TradingView. Here’s a detailed analysis:
Key Elements:
1. Support and Resistance Zones:
Upper Yellow Box (~109,000 - 110,000 USDT): Strong resistance zone.
Middle Yellow Box (~106,000 - 107,750 USDT): Intermediate resistance zone.
Lower Yellow Box (~101,800 USDT): Strong support zone.
2. Current Price:
BTC is trading at around 103,751 USDT.
3. Bullish Setup:
A long position appears to have been entered just above the support zone (~101,788.60).
The projected price target is near 107,746.01 USDT.
Stop-loss is set just below the support zone (~101,788.60).
4. Risk-Reward Ratio (R:R):
The green shaded area represents the profit zone (target).
The red shaded area represents the risk zone (stop-loss).
This setup shows a favorable risk-to-reward ratio, approximately 3:1 or better.
5. Trend Context:
A short-term bullish trend is suggested from the most recent low at the support zone.
The price previously dropped into the support area and is now showing a potential reversal.
Conclusion:
This chart illustrates a bullish trading idea with a stop-loss below the recent support and a take-profit in the upper resistance zone. It’s a classic bounce strategy off a support level targeting a retest of prior highs.
Would you like help calculating the exact R:R ratio or backtesting this setup?
Key Elements:
1. Support and Resistance Zones:
Upper Yellow Box (~109,000 - 110,000 USDT): Strong resistance zone.
Middle Yellow Box (~106,000 - 107,750 USDT): Intermediate resistance zone.
Lower Yellow Box (~101,800 USDT): Strong support zone.
2. Current Price:
BTC is trading at around 103,751 USDT.
3. Bullish Setup:
A long position appears to have been entered just above the support zone (~101,788.60).
The projected price target is near 107,746.01 USDT.
Stop-loss is set just below the support zone (~101,788.60).
4. Risk-Reward Ratio (R:R):
The green shaded area represents the profit zone (target).
The red shaded area represents the risk zone (stop-loss).
This setup shows a favorable risk-to-reward ratio, approximately 3:1 or better.
5. Trend Context:
A short-term bullish trend is suggested from the most recent low at the support zone.
The price previously dropped into the support area and is now showing a potential reversal.
Conclusion:
This chart illustrates a bullish trading idea with a stop-loss below the recent support and a take-profit in the upper resistance zone. It’s a classic bounce strategy off a support level targeting a retest of prior highs.
Would you like help calculating the exact R:R ratio or backtesting this setup?
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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.
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
Join my telegram for free signals link in below
t.me/goldsignalsclub3
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.