Accumulation and a Possible Breakout Towards Weekly Supply📈 Market Trend and Structure 📈
After forming an all-time high, price began its decline and developed a weekly supply zone . This supply zone now stands as the major target area for buyers.
Following the decline, price touched the weekly demand zone , which acted as a powerful reversal point . As supply-demand traders, this gave us a strong indication of the probable bottom.
From there, price recovered and moved into a phase of sideways consolidation , reflecting the tug of war between buyers and sellers.
⚡ Breakout Attempts and Trendline Support ⚡
During this consolidation, price attempted two breakouts with strong volumes . Both times, sellers stepped in aggressively at the horizontal resistance line.
Buyers, however, showed resilience by consistently defending an ascending trendline . This steady support is a sign of accumulation and growing demand.
Recently, price and volume contracted , forming an inside candle —a balance between buyers and sellers.
Today, this inside candle was broken to the upside, which could make this third breakout attempt successful.
🎯 Trading Plan 🎯
Bias: Bullish continuation.
Entry Trigger: Two previous breakout attempts + today’s breakout of the inside candle.
Target: Weekly supply zone.
Stop Loss: Below the previous swing low.
Risk-to-Reward: Approximately 1:3, a favorable setup.
✨ In Short : Sellers are still active near horizontal resistance, but buyers are showing greater strength at higher lows. The breakout of today’s inside candle tilts the balance towards buyers, making this the most promising pre-breakout setup so far.
🚀💡 “In trading, patience to wait and courage to act make all the difference.”
Lastly, Thank you for your support, your likes & comments. Feel free to ask if you have questions.
⚡ Stay disciplined, trade smart, and let the charts guide your story! 📊✨
This analysis is purely for educational purposes and is not intended as a trading or investment recommendation. I am not a SEBI registered Analyst.
