N wave with E, V & N projection.
The chart shows a recent upward correction after a downtrend, with identifiable wave labels (A, B, C).
Price is above Kumo with N level as immediate support (0.225).
Tenkan-sen above Kijun-sen, showing a bullish sentiment.
Price needs to stay above N level (0.225), confirming the bullish continuation.
Entry: Consider a long position if the price breaks above 0.225 with confirming volume.
Stop Loss: Place SL slightly below recent lows, around 0.210, to limit downside risk.
This setup suggests a potential bullish move if the price successfully breaks above the 0.225 level, targeting the V and E projections. Confirmation through volume and price action is crucial for a successful trade.
Monitor price action and volume during breakout. If the price fails to break above 0.225 or reverses, consider avoiding entry or reversing position.
Note:
1. Analysis for education purpses only.
2. Trade at your own risk.
The chart shows a recent upward correction after a downtrend, with identifiable wave labels (A, B, C).
Price is above Kumo with N level as immediate support (0.225).
Tenkan-sen above Kijun-sen, showing a bullish sentiment.
Price needs to stay above N level (0.225), confirming the bullish continuation.
Entry: Consider a long position if the price breaks above 0.225 with confirming volume.
Stop Loss: Place SL slightly below recent lows, around 0.210, to limit downside risk.
This setup suggests a potential bullish move if the price successfully breaks above the 0.225 level, targeting the V and E projections. Confirmation through volume and price action is crucial for a successful trade.
Monitor price action and volume during breakout. If the price fails to break above 0.225 or reverses, consider avoiding entry or reversing position.
Note:
1. Analysis for education purpses only.
2. Trade at your own risk.
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.
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.