Market Analysis – 30-Minute Chart Overview
Upon analysing the 15-minute chart, we observe that the price opened with a gap during the Asian session and is currently trading just below a descending trendline. There is a potential for a breakout above this trendline; however, I anticipate a rejection around the 3356 level, as highlighted on the chart.
If the price rejects from the 3356 resistance level, our first target would be 3305, followed by a second target at 3268.
Alternatively, it’s advisable to wait for the price to approach and react to the 3356 zone. Once rejection is confirmed, consider initiating a short position.
Risk Management Reminder:
Always prioritise capital protection. Trade with proper risk management in place.
Happy trading!
Upon analysing the 15-minute chart, we observe that the price opened with a gap during the Asian session and is currently trading just below a descending trendline. There is a potential for a breakout above this trendline; however, I anticipate a rejection around the 3356 level, as highlighted on the chart.
If the price rejects from the 3356 resistance level, our first target would be 3305, followed by a second target at 3268.
Alternatively, it’s advisable to wait for the price to approach and react to the 3356 zone. Once rejection is confirmed, consider initiating a short position.
Risk Management Reminder:
Always prioritise capital protection. Trade with proper risk management in place.
Happy trading!
Trade closed: target reached
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.