Buy Opportunity
Trade Setup: Long (Buy)
Entry Price:
$2,642.68 (current price level)
Take-Profit (Target):
$2,758.89 (based on the upper resistance zone, offering a 4.4% potential gain)
Stop-Loss:
$2,600.36 (below the support zone to protect against downside risk)
Risk-Reward Ratio (RRR):
Approx. 1:2.8 (favorable for a long trade)
Price action is showing signs of reversal from the support zone.
Momentum indicator (Squeeze Momentum) is transitioning from bearish to bullish.
Volume profile shows strong support around the entry level.
Stop-Loss Justification:
Below the key support zone ($2,604.66 - $2,600.36) to account for potential price fluctuations.
Take-Profit Justification:
Aligns with the marked resistance level at $2,758.89, where profit-taking is likely.
Entry Price:
$2,642.68 (current price level)
Take-Profit (Target):
$2,758.89 (based on the upper resistance zone, offering a 4.4% potential gain)
Stop-Loss:
$2,600.36 (below the support zone to protect against downside risk)
Risk-Reward Ratio (RRR):
Approx. 1:2.8 (favorable for a long trade)
Price action is showing signs of reversal from the support zone.
Momentum indicator (Squeeze Momentum) is transitioning from bearish to bullish.
Volume profile shows strong support around the entry level.
Stop-Loss Justification:
Below the key support zone ($2,604.66 - $2,600.36) to account for potential price fluctuations.
Take-Profit Justification:
Aligns with the marked resistance level at $2,758.89, where profit-taking is likely.
GODO Capital Markets
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