Support Zone:
The horizontal purple box (~104,000 USDT area) has acted as a strong support/resistance flip zone multiple times.
Falling Wedge Breakout:
The price action broke out of a falling wedge pattern earlier, confirming bullish momentum.
Flag Formation (Current):
A smaller bullish flag/pennant appears to be forming, and a breakout above could trigger a strong upward move.
Projected Move:
The black arrow indicates a potential bounce from this support zone, with the price targeting the 111,000–112,000 USDT zone (highlighted in the top purple box).
Volume Spike:
Notable volume spike near the bottom supports the idea of accumulation and possible reversal.
📈 Conclusion:
If the support zone holds and price breaks above the minor flag, a bullish continuation is likely toward the 111,000–112,000 resistance area. Traders should watch for confirmation of a breakout and volume increase for validation.
The horizontal purple box (~104,000 USDT area) has acted as a strong support/resistance flip zone multiple times.
Falling Wedge Breakout:
The price action broke out of a falling wedge pattern earlier, confirming bullish momentum.
Flag Formation (Current):
A smaller bullish flag/pennant appears to be forming, and a breakout above could trigger a strong upward move.
Projected Move:
The black arrow indicates a potential bounce from this support zone, with the price targeting the 111,000–112,000 USDT zone (highlighted in the top purple box).
Volume Spike:
Notable volume spike near the bottom supports the idea of accumulation and possible reversal.
📈 Conclusion:
If the support zone holds and price breaks above the minor flag, a bullish continuation is likely toward the 111,000–112,000 resistance area. Traders should watch for confirmation of a breakout and volume increase for validation.
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• Strategic Partnerships
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Disclaimer
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Market Analyst | Forex Mentor | XAUUSD Specialist
Services Offered:
• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
t.me/ZareeFxTradingSignals
Services Offered:
• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
t.me/ZareeFxTradingSignals
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.