The price is trading above the Kumo, indicating a bullish bias.
Chikou Span is approaching price candles, and a bullish confirmation will occur if it crosses above them.
If Golden cross occur, Tenkan-sen (red) crosses above Kijun-sen (blue) confirming a bullish continuation.
The price has reached 1.30, which aligns with 0.886 Fibonacci retracement.
A temporary rejection at 1.30 suggests that sellers are defending this level.
The next key resistance is at 1.33 (Y wave target E).
A 52-week high is slightly above and could act as a strong resistance.
Entry: Above 1.30 if the price breaks with volume.
Target 1: 1.33 (Y wave target E).
Target 2: 1.40 - 1.42 (52-week high breakout potential).
Stop-Loss: Below 1.25 (previous swing low).
Bullish bias remains intact unless the price drops below 1.25.
A break above 1.30 with strong volume could push the price towards 1.33 and beyond.
Watch for Golden Cross and Chikou Span breakout for confirmation.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
Chikou Span is approaching price candles, and a bullish confirmation will occur if it crosses above them.
If Golden cross occur, Tenkan-sen (red) crosses above Kijun-sen (blue) confirming a bullish continuation.
The price has reached 1.30, which aligns with 0.886 Fibonacci retracement.
A temporary rejection at 1.30 suggests that sellers are defending this level.
The next key resistance is at 1.33 (Y wave target E).
A 52-week high is slightly above and could act as a strong resistance.
Entry: Above 1.30 if the price breaks with volume.
Target 1: 1.33 (Y wave target E).
Target 2: 1.40 - 1.42 (52-week high breakout potential).
Stop-Loss: Below 1.25 (previous swing low).
Bullish bias remains intact unless the price drops below 1.25.
A break above 1.30 with strong volume could push the price towards 1.33 and beyond.
Watch for Golden Cross and Chikou Span breakout for confirmation.
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.