I've been tracking GAMUDA closely on the 30-minute timeframe, and this setup caught my attention due to the confluence of technical signals pointing towards a potential short-term breakout continuation.
Trend Context:
Price is moving within a well-defined ascending parallel regression trend channel. Recently, it rebounded strongly off the lower channel boundary, respecting the channel support before accelerating toward the upper range.
Bollinger Band Action:
The price is currently riding along the upper Bollinger Band, a sign of a trend-strengthening move. This expansion typically signals momentum continuation, especially when supported by volume and broader trend alignment.
Momentum Signals:
RSI is pushing into overbought territory (>70), which in the context of a breakout and strong trend, may indicate strength rather than reversal.
MACD shows a bullish crossover with both lines trending upward, confirming ongoing momentum.
Volume Confirmation:
Volume has been gradually increasing on up candles—suggesting participation and interest in the bullish move.
Resistance & Breakout Area:
The price just cleared a minor horizontal resistance at 5.13, confirming a micro breakout within the channel.
Trade Idea:
Entry Zone: Between RM 5.26 – RM 5.30 (current market area, post breakout)
Profit Target 1: RM 5.38 (near upper channel resistance)
Profit Target 2: RM 5.45 (projected breakout extension)
Stop Loss: RM 5.13 (below recent structure support and mid-channel zone)
This setup offers a favorable RRR (Risk-Reward Ratio) if entered near the current breakout region and managed closely.
Key Takeaways:
Timeframe: 30-minute
Trade Type: Momentum breakout within ascending trend channel
Indicators Used: Bollinger Bands, RSI, MACD
Strategy: Buy on strength with tight stop-loss; ride the channel
Disclaimer: This analysis is shared for educational purposes and is a personal chartist idea. It is not a buy/sell recommendation. Please manage your own risk and do your due diligence.
Trend Context:
Price is moving within a well-defined ascending parallel regression trend channel. Recently, it rebounded strongly off the lower channel boundary, respecting the channel support before accelerating toward the upper range.
Bollinger Band Action:
The price is currently riding along the upper Bollinger Band, a sign of a trend-strengthening move. This expansion typically signals momentum continuation, especially when supported by volume and broader trend alignment.
Momentum Signals:
RSI is pushing into overbought territory (>70), which in the context of a breakout and strong trend, may indicate strength rather than reversal.
MACD shows a bullish crossover with both lines trending upward, confirming ongoing momentum.
Volume Confirmation:
Volume has been gradually increasing on up candles—suggesting participation and interest in the bullish move.
Resistance & Breakout Area:
The price just cleared a minor horizontal resistance at 5.13, confirming a micro breakout within the channel.
Trade Idea:
Entry Zone: Between RM 5.26 – RM 5.30 (current market area, post breakout)
Profit Target 1: RM 5.38 (near upper channel resistance)
Profit Target 2: RM 5.45 (projected breakout extension)
Stop Loss: RM 5.13 (below recent structure support and mid-channel zone)
This setup offers a favorable RRR (Risk-Reward Ratio) if entered near the current breakout region and managed closely.
Key Takeaways:
Timeframe: 30-minute
Trade Type: Momentum breakout within ascending trend channel
Indicators Used: Bollinger Bands, RSI, MACD
Strategy: Buy on strength with tight stop-loss; ride the channel
Disclaimer: This analysis is shared for educational purposes and is a personal chartist idea. It is not a buy/sell recommendation. Please manage your own risk and do your due diligence.
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