SCGBHD - Looking for bullish continuation The price is trading above the Kumo, indicating a bullish bias.
Chikou Span is approaching price candles, and a bullish confirmation will occur if it crosses above them.
If Golden cross occur, Tenkan-sen (red) crosses above Kijun-sen (blue) confirming a bullish continuation.
The price has reached 1.30, which aligns with 0.886 Fibonacci retracement.
A temporary rejection at 1.30 suggests that sellers are defending this level.
The next key resistance is at 1.33 (Y wave target E).
A 52-week high is slightly above and could act as a strong resistance.
Entry: Above 1.30 if the price breaks with volume.
Target 1: 1.33 (Y wave target E).
Target 2: 1.40 - 1.42 (52-week high breakout potential).
Stop-Loss: Below 1.25 (previous swing low).
Bullish bias remains intact unless the price drops below 1.25.
A break above 1.30 with strong volume could push the price towards 1.33 and beyond.
Watch for Golden Cross and Chikou Span breakout for confirmation.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
