Breakout, buying oppotunity Uptrend
Needless to say that breakouts are one of the most popular triggers for entering a position, especially when confirmed above a major price level.
The chart shows a strong and convincing breakout of a significant support/resistance (S/R) level. Although there is a possibility of a pullback, I prefer to initiate a long position at this moment. My next target is approximately 850. As always, setting a stop-loss is essential for managing risk, and I suggest placing it either below the trend line or according to your own trading strategy.
