Buy Setup: Price has successfully broken above the descending trendline, marking a shift from bearish to bullish momentum on the 1-hour timeframe as of May 19, 2025. The breakout is supported by higher highs forming, with the current pullback testing the broken trendline as potential support. Ichimoku conditions align with the bullish outlook—price is above the Kumo, Tenkan-sen has crossed above Kijun-sen, reinforcing the upward potential. Entry is set at the current level with a target near the next resistance and a stop loss below the recent low for a favorable risk-reward ratio.
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.
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.