Trendline:
There’s a clear ascending trendline acting as support.
Price is currently testing the trendline, which aligns with the Order Block zone.
Order Block:
The highlighted yellow zone marks a demand area (Order Block), suggesting a potential bounce if buyers step in.
Potential Setup:
Entry: Look for a bullish confirmation (e.g., bullish engulfing, hammer) within or just above the Order Block zone.
Stop Loss (SL): Place the SL slightly below the Order Block at around 84,050 to allow for minor wicks and volatility.
Target:
First target: Around 84,400 (recent high resistance level).
Second target: If momentum sustains, aim for 84,600 to 84,700 (next key resistance).
✅ Trade Plan:
Entry: ~84,150 (inside the Order Block)
SL: ~84,050
Target 1: ~84,400
Target 2: ~84,600
This setup follows the trendline and order block confluence, giving a favorable risk-to-reward ratio.
There’s a clear ascending trendline acting as support.
Price is currently testing the trendline, which aligns with the Order Block zone.
Order Block:
The highlighted yellow zone marks a demand area (Order Block), suggesting a potential bounce if buyers step in.
Potential Setup:
Entry: Look for a bullish confirmation (e.g., bullish engulfing, hammer) within or just above the Order Block zone.
Stop Loss (SL): Place the SL slightly below the Order Block at around 84,050 to allow for minor wicks and volatility.
Target:
First target: Around 84,400 (recent high resistance level).
Second target: If momentum sustains, aim for 84,600 to 84,700 (next key resistance).
✅ Trade Plan:
Entry: ~84,150 (inside the Order Block)
SL: ~84,050
Target 1: ~84,400
Target 2: ~84,600
This setup follows the trendline and order block confluence, giving a favorable risk-to-reward ratio.
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.
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.