Entry & exit strategy
The price is inside the red Kumo, indicating a bearish sentiment. However, it has recently attempted a breakout above the Kumo.
The price has retraced to the Fibonacci 0.5 and 0.382 levels after rejecting higher resistance levels.
Volume appears to be moderate, with a noticeable spike during the breakout attempt, indicating strong interest at higher levels.
The Tenkan-Sen and Kijun-Sen are near the price level, suggesting consolidation.
Chikou Span has crossed above the price, which may signal a potential bullish continuation if supported by further price action.
A bullish setup is plausible if the price maintains support at 1.86–1.90 and volume confirms buying pressure.
The Ichimoku and Fibonacci alignment suggests a cautious but potentially rewarding trade, with key resistance levels to watch at 2.03 and 2.10.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
The price is inside the red Kumo, indicating a bearish sentiment. However, it has recently attempted a breakout above the Kumo.
The price has retraced to the Fibonacci 0.5 and 0.382 levels after rejecting higher resistance levels.
Volume appears to be moderate, with a noticeable spike during the breakout attempt, indicating strong interest at higher levels.
The Tenkan-Sen and Kijun-Sen are near the price level, suggesting consolidation.
Chikou Span has crossed above the price, which may signal a potential bullish continuation if supported by further price action.
A bullish setup is plausible if the price maintains support at 1.86–1.90 and volume confirms buying pressure.
The Ichimoku and Fibonacci alignment suggests a cautious but potentially rewarding trade, with key resistance levels to watch at 2.03 and 2.10.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
Trade closed: stop reached
Hit SL
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.