A resistance zone is marked near the top (around the 1.13 - 1.14 range), which was previously a strong price ceiling.
A support zone is marked near the bottom, showing a level where price previously bounced back up.
2. Break of Structure (BOS):
A BOS label indicates a key price structure has been broken, suggesting a potential shift in market direction — in this case, likely a bullish breakout.
3. Rocket Icon and Target Area:
The rocket icon and green target box symbolize a bullish price projection, suggesting that price may continue upward.
The target zone is projected near 1.165547, hinting at a long/buy position expectation.
4. Fibonacci Level:
There's a Fibonacci extension or retracement level (0.786923566402819) drawn, likely helping define entries or confirmations.
5. Price Action:
The chart shows a strong bullish momentum with a recent breakout from consolidation.
A small consolidation or retest pattern is drawn within the green zone (above 1.13546), suggesting a bullish continuation after a potential retest.
6. Trade Setup:
The chart likely represents a buy setup, entering around 1.13546 after a pullback, with stop loss below the red zone and take profit near the green target zone.
A support zone is marked near the bottom, showing a level where price previously bounced back up.
2. Break of Structure (BOS):
A BOS label indicates a key price structure has been broken, suggesting a potential shift in market direction — in this case, likely a bullish breakout.
3. Rocket Icon and Target Area:
The rocket icon and green target box symbolize a bullish price projection, suggesting that price may continue upward.
The target zone is projected near 1.165547, hinting at a long/buy position expectation.
4. Fibonacci Level:
There's a Fibonacci extension or retracement level (0.786923566402819) drawn, likely helping define entries or confirmations.
5. Price Action:
The chart shows a strong bullish momentum with a recent breakout from consolidation.
A small consolidation or retest pattern is drawn within the green zone (above 1.13546), suggesting a bullish continuation after a potential retest.
6. Trade Setup:
The chart likely represents a buy setup, entering around 1.13546 after a pullback, with stop loss below the red zone and take profit near the green target zone.
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.