📊 Chart Context & Setup
Chart Type: Candlestick
Indicators Used:
50 EMA (red): Currently at 3,199.009
200 EMA (blue): Currently at 3,123.168
Support Zone: Around 3,157.786 – 3,123.168
Current Price: Approximately 3,211.90
Focus Point (Target Zone): 3,283.810
🧠 Technical Analysis
🔹 Trend Analysis
Overall Trend: Bullish
Price is trading above both the 50 EMA and 200 EMA.
The EMAs are sloping upward, indicating strong momentum.
Golden Cross previously occurred (50 EMA crossing above 200 EMA).
🔹 Key Support & Resistance
Immediate Resistance Zone: Around 3,240
This area is acting as a potential rejection zone, with minor consolidation.
Support Zone (Highlighted): 3,157 – 3,123
This zone was previously a breakout level and now serves as a retest support.
It coincides with the 200 EMA, adding to its strength.
🔁 Scenarios Presented
Scenario A – Bullish Rejection from Immediate Support (3,199)
Price could hold above or near the 50 EMA.
Break and retest of minor resistance could lead to a push toward 3,283.81 (target).
This is a higher-risk entry as the support is not deeply tested yet.
Scenario B – Deeper Pullback to Major Support (3,157 – 3,123)
A drop below current price into the main demand zone.
Bullish engulfing or strong reaction in this zone would offer a high-probability long setup.
Ideal entry point for swing traders, especially if confirmed by volume or bullish candlestick reversal.
🎯 Trade Strategy Suggestion
✅ Long Setup
Entry Option 1: On bullish rejection above 3,199 with confirmation.
Entry Option 2 (Preferred): At strong support zone 3,157 – 3,123 with bullish reversal signal.
Target: 3,283.81
Stop Loss:
For Entry 1: Below 3,157
For Entry 2: Below 3,100 or 200 EMA, depending on aggressiveness
📌 Conclusion
This chart illustrates a classic bullish continuation setup with two potential entry scenarios:
A minor pullback and bounce from the 50 EMA.
A deeper retracement into a strong support zone aligned with the 200 EMA.
The uptrend remains intact as long as the price holds above the 200 EMA and the major demand zone. A break below 3,100 would invalidate the bullish outlook short-term
Chart Type: Candlestick
Indicators Used:
50 EMA (red): Currently at 3,199.009
200 EMA (blue): Currently at 3,123.168
Support Zone: Around 3,157.786 – 3,123.168
Current Price: Approximately 3,211.90
Focus Point (Target Zone): 3,283.810
🧠 Technical Analysis
🔹 Trend Analysis
Overall Trend: Bullish
Price is trading above both the 50 EMA and 200 EMA.
The EMAs are sloping upward, indicating strong momentum.
Golden Cross previously occurred (50 EMA crossing above 200 EMA).
🔹 Key Support & Resistance
Immediate Resistance Zone: Around 3,240
This area is acting as a potential rejection zone, with minor consolidation.
Support Zone (Highlighted): 3,157 – 3,123
This zone was previously a breakout level and now serves as a retest support.
It coincides with the 200 EMA, adding to its strength.
🔁 Scenarios Presented
Scenario A – Bullish Rejection from Immediate Support (3,199)
Price could hold above or near the 50 EMA.
Break and retest of minor resistance could lead to a push toward 3,283.81 (target).
This is a higher-risk entry as the support is not deeply tested yet.
Scenario B – Deeper Pullback to Major Support (3,157 – 3,123)
A drop below current price into the main demand zone.
Bullish engulfing or strong reaction in this zone would offer a high-probability long setup.
Ideal entry point for swing traders, especially if confirmed by volume or bullish candlestick reversal.
🎯 Trade Strategy Suggestion
✅ Long Setup
Entry Option 1: On bullish rejection above 3,199 with confirmation.
Entry Option 2 (Preferred): At strong support zone 3,157 – 3,123 with bullish reversal signal.
Target: 3,283.81
Stop Loss:
For Entry 1: Below 3,157
For Entry 2: Below 3,100 or 200 EMA, depending on aggressiveness
📌 Conclusion
This chart illustrates a classic bullish continuation setup with two potential entry scenarios:
A minor pullback and bounce from the 50 EMA.
A deeper retracement into a strong support zone aligned with the 200 EMA.
The uptrend remains intact as long as the price holds above the 200 EMA and the major demand zone. A break below 3,100 would invalidate the bullish outlook short-term
Trade active
Market skipped the initial sell-off structure and went straight into the second scenario — a direct bullish move from the support zone. Now we watch closely to see how price reacts moving forward. 📈
Trade closed: target reached
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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PARTNER CODE⤵️
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t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
Related publications
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.