📈
🕰️ Timeframe: 30-minute chart
🔍 Pattern: Bull flag / descending channel breakout
📉 Previous Trend: Uptrend with healthy retracement
🧭 Setup: Breakout from short-term correction, aligning with trendline support
🧩 Technical Breakdown:
Support Zones:
$83.00 (holding on ascending trendline)
$82.50–82.75 (horizontal support near recent consolidation)
Entry Zone:
Around $83.00–83.10, right at the wedge breakout and trendline bounce
Price currently at $83.07
Resistance / Target Levels:
TP1: $83.57 (red line – previous supply zone)
TP2: $84.00 (orange – intraday resistance)
TP3: $84.47 (green – swing high / upper target)
Stop Loss:
Below $82.50 (under trendline and horizontal support)
Risk-Reward Estimate:
R:R ~ 1:2 or more depending on SL and target chosen
⚠️ Key Watchpoints:
Breakout needs volume confirmation (not shown but important)
Hold above $83.00 is critical for bullish momentum
$84 zone could act as a short-term barrier
✅ Summary:
This is a clean long setup with a textbook bounce off the rising trendline and breakout of a mini bull flag/descending channel. A sustained move above $83.57 can unlock a push toward $84.47.
🕰️ Timeframe: 30-minute chart
🔍 Pattern: Bull flag / descending channel breakout
📉 Previous Trend: Uptrend with healthy retracement
🧭 Setup: Breakout from short-term correction, aligning with trendline support
🧩 Technical Breakdown:
Support Zones:
$83.00 (holding on ascending trendline)
$82.50–82.75 (horizontal support near recent consolidation)
Entry Zone:
Around $83.00–83.10, right at the wedge breakout and trendline bounce
Price currently at $83.07
Resistance / Target Levels:
TP1: $83.57 (red line – previous supply zone)
TP2: $84.00 (orange – intraday resistance)
TP3: $84.47 (green – swing high / upper target)
Stop Loss:
Below $82.50 (under trendline and horizontal support)
Risk-Reward Estimate:
R:R ~ 1:2 or more depending on SL and target chosen
⚠️ Key Watchpoints:
Breakout needs volume confirmation (not shown but important)
Hold above $83.00 is critical for bullish momentum
$84 zone could act as a short-term barrier
✅ Summary:
This is a clean long setup with a textbook bounce off the rising trendline and breakout of a mini bull flag/descending channel. A sustained move above $83.57 can unlock a push toward $84.47.
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.