HELLO TRADERS
Let's start...
✅ Trend Structure:
The overall structure is bullish, with higher highs and higher lows from March onward.
Price has recently broken out of the consolidation zone and is now trading at $3,443, approaching a key resistance zone.
📏 Key Levels:
Immediate Resistance: $3,480 – $3,500 (previous highs from April)
Major Resistance: $3,560 – $3,600
Immediate Support: $3,360 – $3,320 (former range highs)
Major Support: $3,240
📊 Candlestick Signal:
The last few candles show strong bullish momentum and increasing range, indicating breakout strength.
📈 Scenario 1: Buy Setup (Breakout Continuation)
Entry: Buy at $3,450 – $3,460 (After being sure for no more rejection at 3,440-3,450)
Stop Loss (SL): $3,410
Target Price (TP):
TP1: $3,480
TP2: $3,500 (near-term resistance)
TP3: $3,550 (April swing high)
TP4: $3,600 (Geopolitical ,psychological and Fibonacci extension level)
📌 Reason: Momentum breakout of previous consolidation. Entering on strength with a pullback toward breakout retest is safer.
📉 Scenario 2: Sell Setup (Fake Breakout / Rejection)
Trigger: Only if there's a daily close below $3,400 or a strong rejection candle
Entry: Sell below $3,400
Stop Loss (SL): $3,455
Target Price (TP):
TP1: $3,360
TP2: $3,320 (previous support area)
TP3: $3,280
📌 Reason: Rejection at resistance may lead to short-term correction or liquidity sweep before higher move.
📌 CAREFULL: Classic “breakout and retest” setup. Safer than chasing highs. i.e. BUY setup safer than SELL setup.
GOOD LUCK
Trade closed: target reached
Another Perfect Analysis ... WOWFor buy scenario we said buy above 3,450-3,460 (again we noticed another rejection this rejection was predictable and happened for the third time).
Then Sell Scenario which was candle closure below 3,400 and All Target Prices were met.
TP1: $3,360
TP2: $3,320 (previous support area)
TP3: $3,280
Good Luck for everyone
let's see what will be our analysis for next week?!
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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.