Support Zone Rejection (around 3,250 USD):
Price sharply reversed after testing a key support area (highlighted with a circle).
Volume increased at the reversal point, signaling strong buyer interest.
Break Above Minor Resistance (~3,280 USD):
Price has broken above the immediate resistance level with strong bullish momentum.
A bullish candle has closed above this zone, indicating a potential continuation.
Next Target Resistance Zones:
First Target: Around 3,320 USD, which aligns with a previous structural high and supply zone.
Final Target: Around 3,345–3,350 USD, representing a major resistance zone and previous swing high.
Trade Plan:
Entry: Above 3,280 (already in motion).
Target 1: 3,320
Target 2: 3,345–3,350
Stop Loss: Below 3,260 (below recent low and support zone)
Bullish Structure:
Higher low has been established.
Momentum is supported by volume confirmation
Price sharply reversed after testing a key support area (highlighted with a circle).
Volume increased at the reversal point, signaling strong buyer interest.
Break Above Minor Resistance (~3,280 USD):
Price has broken above the immediate resistance level with strong bullish momentum.
A bullish candle has closed above this zone, indicating a potential continuation.
Next Target Resistance Zones:
First Target: Around 3,320 USD, which aligns with a previous structural high and supply zone.
Final Target: Around 3,345–3,350 USD, representing a major resistance zone and previous swing high.
Trade Plan:
Entry: Above 3,280 (already in motion).
Target 1: 3,320
Target 2: 3,345–3,350
Stop Loss: Below 3,260 (below recent low and support zone)
Bullish Structure:
Higher low has been established.
Momentum is supported by volume confirmation
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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.
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.