Buy Analysis Overview:
1. Clear Bullish Market Structure
• The chart shows a series of higher highs and higher lows, confirming bullish momentum.
• Price has broken previous resistance levels and is now using them as support (e.g., zones around 105.000 – 105.260).
2. Retest of Previous Breakout Zone
• Price recently broke above a significant resistance (now turned support) around 105.200 – 105.300.
• It’s currently retesting that area — a bullish continuation pattern if it holds.
• The current consolidation just above the support zone is a healthy sign of buyers defending the level.
3. Support from Moving Averages
• Price is sitting above both the 50 EMA (blue) and 100 EMA (black), which are also sloping upward.
• These EMAs are acting as dynamic support, further strengthening the bullish outlook.
4. Entry from Demand Zone
• The small demand zone (light blue box) around 105.200 has been tapped multiple times without being broken — showing strong buying interest.
• Ideal spot for buy entries with minimal drawdown.
5. Clear Upside Target
• If the support holds, the next bullish target is around 106.500 – 107.250.
• The top green zone (~107.259) marks a logical take profit, based on historical supply and prior swing highs.
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Entry & Risk Plan:
• Entry Idea: Long around 105.200–105.300 zone (on confirmation of bullish candle or engulfing pattern)
• Stop Loss: Below 104.950 (beneath the demand zone to avoid fakeouts)
• Take Profit Zones:
• TP1: 106.500
• TP2: 107.250
1. Clear Bullish Market Structure
• The chart shows a series of higher highs and higher lows, confirming bullish momentum.
• Price has broken previous resistance levels and is now using them as support (e.g., zones around 105.000 – 105.260).
2. Retest of Previous Breakout Zone
• Price recently broke above a significant resistance (now turned support) around 105.200 – 105.300.
• It’s currently retesting that area — a bullish continuation pattern if it holds.
• The current consolidation just above the support zone is a healthy sign of buyers defending the level.
3. Support from Moving Averages
• Price is sitting above both the 50 EMA (blue) and 100 EMA (black), which are also sloping upward.
• These EMAs are acting as dynamic support, further strengthening the bullish outlook.
4. Entry from Demand Zone
• The small demand zone (light blue box) around 105.200 has been tapped multiple times without being broken — showing strong buying interest.
• Ideal spot for buy entries with minimal drawdown.
5. Clear Upside Target
• If the support holds, the next bullish target is around 106.500 – 107.250.
• The top green zone (~107.259) marks a logical take profit, based on historical supply and prior swing highs.
⸻
Entry & Risk Plan:
• Entry Idea: Long around 105.200–105.300 zone (on confirmation of bullish candle or engulfing pattern)
• Stop Loss: Below 104.950 (beneath the demand zone to avoid fakeouts)
• Take Profit Zones:
• TP1: 106.500
• TP2: 107.250
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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 Trading Channel - t.me/DBFXTraderChannel
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.