This chart shows a price movement within an ascending channel, followed by a bearish breakdown. Here's the analysis:
Analysis:
1. Trend: The price was moving within an upward channel but recently broke below the lower trendline.
2. Breakout: A bearish breakout occurred, indicating a potential downtrend.
3. Trade Setup:
Short Entry: Around 2,982.270 (breakout level)
Stop Loss: Around 2,990.286 (previous resistance)
Take Profit: Around 2,972.029 or lower (support level)
Signal:
Sell/Short: If the price stays below 2,982.270, it suggests bearish momentum.
Stop Loss: Above 2,990.286 to minimize risk.
Target: 2,972.029 or lower.
Analysis:
1. Trend: The price was moving within an upward channel but recently broke below the lower trendline.
2. Breakout: A bearish breakout occurred, indicating a potential downtrend.
3. Trade Setup:
Short Entry: Around 2,982.270 (breakout level)
Stop Loss: Around 2,990.286 (previous resistance)
Take Profit: Around 2,972.029 or lower (support level)
Signal:
Sell/Short: If the price stays below 2,982.270, it suggests bearish momentum.
Stop Loss: Above 2,990.286 to minimize risk.
Target: 2,972.029 or lower.
✅Free Telegram
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
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.
✅Free Telegram
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
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.