1. Support and Resistance Flip:
The level of 3,325, once resistance, has been retested and is now acting as support.
3,360 is the next resistance to break for bullish continuation.
2. Price Consolidation:
The price has been trading sideways between 3,325 – 3,360, indicating accumulation.
3. Bullish Bias:
If price breaks above 3,360 with strong momentum and volume, it may head toward the target area at 3,409.243.
This zone is likely drawn based on a previous swing high or Fibonacci extension.
4. Entry Idea:
A buy entry can be considered on a confirmed breakout above 3,360, with a target at 3,409 and a stop-loss below the 3,325 support.
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Trade Setup (Example):
Buy above: 3,365 (confirmation)
Target: 3,409
Stop-loss: 3,310 (below support zone
The level of 3,325, once resistance, has been retested and is now acting as support.
3,360 is the next resistance to break for bullish continuation.
2. Price Consolidation:
The price has been trading sideways between 3,325 – 3,360, indicating accumulation.
3. Bullish Bias:
If price breaks above 3,360 with strong momentum and volume, it may head toward the target area at 3,409.243.
This zone is likely drawn based on a previous swing high or Fibonacci extension.
4. Entry Idea:
A buy entry can be considered on a confirmed breakout above 3,360, with a target at 3,409 and a stop-loss below the 3,325 support.
---
Trade Setup (Example):
Buy above: 3,365 (confirmation)
Target: 3,409
Stop-loss: 3,310 (below support zone
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.