HYPER H4 Outlook
Based on the chart, the market appears to be in a prior downtrend, evidenced by the formation of lower highs and lower lows. However, there are signs of a potential reversal as the Sell Side Liquidity (SSL) levels have been swept, suggesting a possible shift in momentum. Key Buy Side Liquidity (BSL) levels above the current price, such as $25.373, $28.324, and $30.121, present potential targets if the price starts to move upward. The Fibonacci retracement levels indicate $30.06 (0.618) as a significant resistance area, with $28.34 (0.5) as another notable level for profit-taking during an upward move.
There are two potential entry points: Entry 1 at $22.045 and Entry 2 at $21.916, both positioned near strong support levels. Traders could consider waiting for the price to retrace to one of these levels before entering a long position, targeting the BSL zones above. If the price manages to break and hold above the SMA 13 (yellow line), it may signal the beginning of bullish momentum. A stop loss below the last SSL zone would help mitigate risk in case of further bearish continuation.
NFA, DYOR
There are two potential entry points: Entry 1 at $22.045 and Entry 2 at $21.916, both positioned near strong support levels. Traders could consider waiting for the price to retrace to one of these levels before entering a long position, targeting the BSL zones above. If the price manages to break and hold above the SMA 13 (yellow line), it may signal the beginning of bullish momentum. A stop loss below the last SSL zone would help mitigate risk in case of further bearish continuation.
NFA, DYOR
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.