N wave with E, V, N & NT projection.
The price is above the Kumo, indicating a bullish trend.
The Tenkan-sen is above the Kijun-sen, signaling bullish momentum.
Chikou Span is above the price candles and the Kumo, supporting the bullish bias.
The price has closed above a critical resistance zone (gap closure region), confirming bullish progress.
The price is at 0.685, moving into the gap closure area, which could serve as a magnet for price action.
Breakout above 0.720 (NT level) is critical for further bullish momentum.
Immediate resistance levels: 0.720 (NT), 0.745 (V), 0.775 (N), and 0.840 (E).
Immediate support levels: 0.660 (gap support) and 0.640 (upper Kumo edge).
Enter a long position if the price breaks above 0.720 (NT level) with strong volume.
Alternatively, wait for a pullback near 0.660–0.670 (gap support zone) for a better risk-reward setup.
Place a stop-loss below 0.640 (upper Kumo edge) to manage downside risk.
Volume Confirmation: Ensure the breakout above 0.720 (NT) is supported by significant volume.
Risk Management: Adjust position size according to the stop-loss distance and ensure the reward-to-risk ratio is favorable.
52-Week High: Monitor price action if it approaches the 52-week high, as this could act as psychological resistance.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
The price is above the Kumo, indicating a bullish trend.
The Tenkan-sen is above the Kijun-sen, signaling bullish momentum.
Chikou Span is above the price candles and the Kumo, supporting the bullish bias.
The price has closed above a critical resistance zone (gap closure region), confirming bullish progress.
The price is at 0.685, moving into the gap closure area, which could serve as a magnet for price action.
Breakout above 0.720 (NT level) is critical for further bullish momentum.
Immediate resistance levels: 0.720 (NT), 0.745 (V), 0.775 (N), and 0.840 (E).
Immediate support levels: 0.660 (gap support) and 0.640 (upper Kumo edge).
Enter a long position if the price breaks above 0.720 (NT level) with strong volume.
Alternatively, wait for a pullback near 0.660–0.670 (gap support zone) for a better risk-reward setup.
Place a stop-loss below 0.640 (upper Kumo edge) to manage downside risk.
Volume Confirmation: Ensure the breakout above 0.720 (NT) is supported by significant volume.
Risk Management: Adjust position size according to the stop-loss distance and ensure the reward-to-risk ratio is favorable.
52-Week High: Monitor price action if it approaches the 52-week high, as this could act as psychological resistance.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
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.