Reduction in bearish momentum and formation of potential base
Order Type: Buy Stop
Entry Price: 1.2620 (to confirm potential breakout and capture upward momentum)
Take Profit: 1.2750
Stop Loss: 1.2570
Confidence Level: 72%
Justification:
Price Action: Reduction in bearish momentum and formation of potential base at lower Bollinger Band.
Volume: Stability and consistent volumes suggest controlled movements.
Indicators: Bullish divergence in MACD on shorter timeframes and Bollinger Band squeeze indicate upward breakout potential.
Support and Resistance: Placing stop loss below immediate support to manage risk.
Entry Price: 1.2620 (to confirm potential breakout and capture upward momentum)
Take Profit: 1.2750
Stop Loss: 1.2570
Confidence Level: 72%
Justification:
Price Action: Reduction in bearish momentum and formation of potential base at lower Bollinger Band.
Volume: Stability and consistent volumes suggest controlled movements.
Indicators: Bullish divergence in MACD on shorter timeframes and Bollinger Band squeeze indicate upward breakout potential.
Support and Resistance: Placing stop loss below immediate support to manage risk.
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.