COMP: Bullish Breakout Confirmed! Keep an Eye on Retest Levels💎 COMP has recently broken out of the resistive trendline and the neckline of an inverse head and shoulders pattern, while also displaying signs of CHoCH and BOS, indicating a bullish market structure and increasing the probability of a bullish market.
💎 If COMPUSDT undergoes a proper retest and begins to exhibit bullish candlestick patterns in that area, it would signal a potential bullish movement towards the next resistance zone. However, if the price experiences a pullback accompanied by significant red candles, it would be advisable to wait for bullish OB (Order Block) levels, as these could serve as areas of support and potential bounce opportunities.
💎 In the event that COMP breaks down below the bullish OB level as well, it would be prudent to avoid trading it in that scenario and wait for clearer price action signals to emerge.
COMP
💡Don't miss the great buy opportunity in COMPUSD @compoundfinaTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (307).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. COMPUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 370
TP2= @ 410
TP3= @ 460
TP4= @ 539
TP5= @ 617
SL= Break below S2
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It's a great buy opportunity in COMPBTC @compoundfinanceTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.007980). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. COMPBTC is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 48.
Take Profits:
TP1= @ 0.009700
TP2= @ 0.011300
TP3= @ 0.013620
TP4= @ 0.016600
TP5= @ 0.019640
TP6= @ 0.022900
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️