🔍 Technical Pattern & Trend
The price is moving within a rising channel (indicated by two parallel blue trend lines).
Price action has been respecting this upward trend since mid-May, forming higher highs and higher lows.
Recently, there's been a bullish breakout above a consolidation zone (blue rectangle), which suggests continuation of the uptrend.
🎯 Trade Setup
🟦 Entry Zone (Blue Box)
Entry Point: Around 1.76800
This is just above the recent consolidation and within the current uptrend support.
The price is expected to pull back to this level before continuing higher.
🟧 Stop Loss (Orange Box)
Stop Loss Level: Around 1.75525 – 1.76368
Placed below the lower boundary of the consolidation zone and just under the channel support.
This accounts for potential false breakouts or minor corrections.
🟩 Target (Green Box)
Target Point: 1.84000
This aligns with the projected measured move from the breakout of the consolidation area and top resistance zone.
Represents a strong reward-to-risk ratio.
📈 Key Indicators
EMA (70-period): Currently at 1.76368, confirming bullish momentum as price is above this level.
The moving average acts as dynamic support in this trend.
⚠️ Risk/Reward
Risk: Approx. 120 pips (1.76800 to 1.75525)
Reward: Approx. 720 pips (1.76800 to 1.84000)
Reward-to-Risk Ratio: ~6:1, which is favorable for swing trading setups.
✅ Summary
Bias: Bullish
Trade Idea: Buy on dip at 1.76800
Target: 1.84000
Stop Loss: Below 1.75525
Confirmation Needed: Pullback and hold at entry zone or bullish candlestick formation at that level.
The price is moving within a rising channel (indicated by two parallel blue trend lines).
Price action has been respecting this upward trend since mid-May, forming higher highs and higher lows.
Recently, there's been a bullish breakout above a consolidation zone (blue rectangle), which suggests continuation of the uptrend.
🎯 Trade Setup
🟦 Entry Zone (Blue Box)
Entry Point: Around 1.76800
This is just above the recent consolidation and within the current uptrend support.
The price is expected to pull back to this level before continuing higher.
🟧 Stop Loss (Orange Box)
Stop Loss Level: Around 1.75525 – 1.76368
Placed below the lower boundary of the consolidation zone and just under the channel support.
This accounts for potential false breakouts or minor corrections.
🟩 Target (Green Box)
Target Point: 1.84000
This aligns with the projected measured move from the breakout of the consolidation area and top resistance zone.
Represents a strong reward-to-risk ratio.
📈 Key Indicators
EMA (70-period): Currently at 1.76368, confirming bullish momentum as price is above this level.
The moving average acts as dynamic support in this trend.
⚠️ Risk/Reward
Risk: Approx. 120 pips (1.76800 to 1.75525)
Reward: Approx. 720 pips (1.76800 to 1.84000)
Reward-to-Risk Ratio: ~6:1, which is favorable for swing trading setups.
✅ Summary
Bias: Bullish
Trade Idea: Buy on dip at 1.76800
Target: 1.84000
Stop Loss: Below 1.75525
Confirmation Needed: Pullback and hold at entry zone or bullish candlestick formation at that level.
join my tellegram channel
t.me/JaMesGoldFiGhteR786
join my refferal broker
xmglobal.com/referral?token=S4yGyqPUmU9uAANtb_YUoA
t.me/JaMesGoldFiGhteR786
join my refferal broker
xmglobal.com/referral?token=S4yGyqPUmU9uAANtb_YUoA
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.
join my tellegram channel
t.me/JaMesGoldFiGhteR786
join my refferal broker
xmglobal.com/referral?token=S4yGyqPUmU9uAANtb_YUoA
t.me/JaMesGoldFiGhteR786
join my refferal broker
xmglobal.com/referral?token=S4yGyqPUmU9uAANtb_YUoA
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.