Excellent technical structure
Trend Direction: Bullish - Higher highs, higher lows intact
Current Phase: Pullback/Consolidation - Healthy correction expected
Risk Level: Medium - Not at ideal entry, better entry coming
Overall Probability: Bullish - Channel likely to continue
Wait for pullback to 25,600 zone, then initiate long positions with defined risk at 25,350. Target 26,300 initially, then 26,800-27,000 on breakout. This offers the best risk/reward profile with high probability of success.
Do not Chase current price
Do not Buy at resistance (26,300)
This chart represents a textbook ascending channel in a strong uptrend, currently at a decision point after testing resistance. The most prudent approach is patience for the high-probability pullback to support.
DISCLAIMER: This information is provided for educational purposes only and should not be considered financial, investment, or trading advice.
No guarantee of profits: Past performance and theoretical models do not guarantee future results. Trading and investing involve substantial risk of loss.
Not a recommendation: This script illustration does not constitute a recommendation to buy, sell, or hold any financial instrument.
Do your own research: Always conduct thorough independent research and consider consulting with a qualified financial advisor before making any trading decisions.
Trend Direction: Bullish - Higher highs, higher lows intact
Current Phase: Pullback/Consolidation - Healthy correction expected
Risk Level: Medium - Not at ideal entry, better entry coming
Overall Probability: Bullish - Channel likely to continue
Wait for pullback to 25,600 zone, then initiate long positions with defined risk at 25,350. Target 26,300 initially, then 26,800-27,000 on breakout. This offers the best risk/reward profile with high probability of success.
Do not Chase current price
Do not Buy at resistance (26,300)
This chart represents a textbook ascending channel in a strong uptrend, currently at a decision point after testing resistance. The most prudent approach is patience for the high-probability pullback to support.
DISCLAIMER: This information is provided for educational purposes only and should not be considered financial, investment, or trading advice.
No guarantee of profits: Past performance and theoretical models do not guarantee future results. Trading and investing involve substantial risk of loss.
Not a recommendation: This script illustration does not constitute a recommendation to buy, sell, or hold any financial instrument.
Do your own research: Always conduct thorough independent research and consider consulting with a qualified financial advisor before making any trading decisions.
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.