Break of Trend Line: The price has broken below a descending trend line, indicating a potential shift in momentum.
Retest: After the break, the price appears to be retesting the trend line from below, which often acts as a confirmation of the breakout.
Ichimoku Cloud: The price is interacting with the Ichimoku Cloud. A move above the cloud could signal a bullish trend, especially if accompanied by a Tenkan-sen (conversion line) crossing above the Kijun-sen (base line).
Support Zone: The price is near a highlighted support zone (green area), which could act as a springboard for a buy if it holds.
Potential Entry: A buy position could be considered if the price breaks above the trend line during the retest, confirms with a close above the Ichimoku Cloud, and shows bullish momentum with candlestick patterns like a strong bullish candle.
Retest: After the break, the price appears to be retesting the trend line from below, which often acts as a confirmation of the breakout.
Ichimoku Cloud: The price is interacting with the Ichimoku Cloud. A move above the cloud could signal a bullish trend, especially if accompanied by a Tenkan-sen (conversion line) crossing above the Kijun-sen (base line).
Support Zone: The price is near a highlighted support zone (green area), which could act as a springboard for a buy if it holds.
Potential Entry: A buy position could be considered if the price breaks above the trend line during the retest, confirms with a close above the Ichimoku Cloud, and shows bullish momentum with candlestick patterns like a strong bullish candle.
Trade closed: target reached
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.