Key Technical Insights:
Bullish Trend Continuation Setup:
The price is currently trading within a bullish ascending channel (yellow lines). The overall trend is up, and we’ve seen a recent pullback towards key support areas. This suggests the potential for a bullish reversal, setting up for another move towards the $3,300 resistance level.
Order Block Formation:
We have an Order Block (red box) formed at the lower part of the channel. This is a critical zone where institutional buying has previously occurred, which increases the likelihood of price reaction if it revisits this level.
The Order Block represents an area of significant market demand, and the probability of price bouncing higher from here is high, given the solid historical price action at this level.
Support & Resistance:
Support: The $3,235 level has been a strong area of support (orange line), and we are now approaching this zone. A bounce from here, with confirmation, could provide an optimal entry for a long position.
Resistance: The immediate resistance target lies at $3,290, and $3,300 is the major level to watch for a breakout to the upside.
Trade Setup – Bullish Reversal Opportunity:
Entry:
Look for a long position near the $3,235 support (orange line), ideally at the Order Block (red box). This provides a high probability entry for continuation of the bullish trend.
A confirmation candle (such as a bullish engulfing or hammer candle) would be ideal for confirming the reversal.
Target:
The primary target is the $3,290 level, with the potential for further upside towards $3,300 if the bullish momentum continues. These targets align with the previous price action and resistance zones.
Stop-Loss:
A tight stop-loss below $3,220 ensures protection against invalidation of the setup. If price breaks below the lower part of the channel, the trade thesis would be invalidated, and the position should be exited.
Additional Considerations:
Volume Analysis: Volume has been increasing during the pullback, which suggests that institutional buyers are stepping in around the Order Block area. Watching for volume spikes during the confirmation candle will strengthen the setup.
Moving Average Support: The 200-period SMA is providing dynamic support, which is another indicator that the overall trend remains bullish. A rejection from this level could give further confidence in entering the position.
Risk/Reward: With a risk-to-reward ratio of approximately 1:3, this trade setup offers an attractive potential return relative to the risk taken. The reward far outweighs the risk, making it a high-probability setup for a well-managed trade.
Key Takeaways:
This is a high-confidence bullish continuation trade that aligns with the current market structure.
The Order Block provides a solid area of institutional demand, increasing the probability of price bouncing and continuing higher.
A well-defined entry at $3,235, with clear stop-loss and target levels, creates a structured approach to executing this trade.
Follow GoldenZoneFX Fore more Valuable Insights.
Bullish Trend Continuation Setup:
The price is currently trading within a bullish ascending channel (yellow lines). The overall trend is up, and we’ve seen a recent pullback towards key support areas. This suggests the potential for a bullish reversal, setting up for another move towards the $3,300 resistance level.
Order Block Formation:
We have an Order Block (red box) formed at the lower part of the channel. This is a critical zone where institutional buying has previously occurred, which increases the likelihood of price reaction if it revisits this level.
The Order Block represents an area of significant market demand, and the probability of price bouncing higher from here is high, given the solid historical price action at this level.
Support & Resistance:
Support: The $3,235 level has been a strong area of support (orange line), and we are now approaching this zone. A bounce from here, with confirmation, could provide an optimal entry for a long position.
Resistance: The immediate resistance target lies at $3,290, and $3,300 is the major level to watch for a breakout to the upside.
Trade Setup – Bullish Reversal Opportunity:
Entry:
Look for a long position near the $3,235 support (orange line), ideally at the Order Block (red box). This provides a high probability entry for continuation of the bullish trend.
A confirmation candle (such as a bullish engulfing or hammer candle) would be ideal for confirming the reversal.
Target:
The primary target is the $3,290 level, with the potential for further upside towards $3,300 if the bullish momentum continues. These targets align with the previous price action and resistance zones.
Stop-Loss:
A tight stop-loss below $3,220 ensures protection against invalidation of the setup. If price breaks below the lower part of the channel, the trade thesis would be invalidated, and the position should be exited.
Additional Considerations:
Volume Analysis: Volume has been increasing during the pullback, which suggests that institutional buyers are stepping in around the Order Block area. Watching for volume spikes during the confirmation candle will strengthen the setup.
Moving Average Support: The 200-period SMA is providing dynamic support, which is another indicator that the overall trend remains bullish. A rejection from this level could give further confidence in entering the position.
Risk/Reward: With a risk-to-reward ratio of approximately 1:3, this trade setup offers an attractive potential return relative to the risk taken. The reward far outweighs the risk, making it a high-probability setup for a well-managed trade.
Key Takeaways:
This is a high-confidence bullish continuation trade that aligns with the current market structure.
The Order Block provides a solid area of institutional demand, increasing the probability of price bouncing and continuing higher.
A well-defined entry at $3,235, with clear stop-loss and target levels, creates a structured approach to executing this trade.
Follow GoldenZoneFX Fore more Valuable Insights.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。