🔥 Technical Breakout with a Strong Rejection Wick!
🔸 Parallel Channel Breakout
Price has convincingly broken out of a long-standing parallel descending channel (orange) — a bullish signal indicating a potential trend reversal.
🔸 Counter Trendline Broken
The white counter-trendline was broken earlier, leading to bullish momentum building up gradually. This breakout aligns with classic reversal theory.
🔸 Supply-Demand Flip Zone (Grey Box)
The price action respected the SUPPLY → DEMAND zone beautifully before launching upward, confirming it as a key area of interest.
🔸 Long Wick Rejection Candle
Notice the most recent monthly candle: a long lower wick with a strong body, closing near the highs.
🟠 Parallel Channel
⚪ Counter Trendline
⚫ Grey Supply-Demand Zone
🟥 Top Supply Zone
🟢 Bullish Rejection Candle
🔸 Parallel Channel Breakout
Price has convincingly broken out of a long-standing parallel descending channel (orange) — a bullish signal indicating a potential trend reversal.
🔸 Counter Trendline Broken
The white counter-trendline was broken earlier, leading to bullish momentum building up gradually. This breakout aligns with classic reversal theory.
🔸 Supply-Demand Flip Zone (Grey Box)
The price action respected the SUPPLY → DEMAND zone beautifully before launching upward, confirming it as a key area of interest.
🔸 Long Wick Rejection Candle
Notice the most recent monthly candle: a long lower wick with a strong body, closing near the highs.
🟠 Parallel Channel
⚪ Counter Trendline
⚫ Grey Supply-Demand Zone
🟥 Top Supply Zone
🟢 Bullish Rejection Candle
✅ Telegram ( More Charts) : t.me/hashtaghammer
✅ WhatsApp (Contact me) : wa.me/919455664601
✅ YouTube (More Content) : youtube.com/@HashtagHammer
✅ WhatsApp (Contact me) : wa.me/919455664601
✅ YouTube (More Content) : youtube.com/@HashtagHammer
Related publications
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.
✅ Telegram ( More Charts) : t.me/hashtaghammer
✅ WhatsApp (Contact me) : wa.me/919455664601
✅ YouTube (More Content) : youtube.com/@HashtagHammer
✅ WhatsApp (Contact me) : wa.me/919455664601
✅ YouTube (More Content) : youtube.com/@HashtagHammer
Related publications
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.