Technical Breakdown (4H chart):
Price action is currently consolidating between two key zones following a strong bullish move. We're now watching for a breakout from this wedge pattern.
🔴 Downtrend line acting as resistance.
🟢 Uptrend line forming a rising wedge.
🔵 Key Levels:
Buys Above: 187.346 – Bullish breakout potential if price breaks above this resistance with strong volume.
Sells Below: 186.106 – Bearish continuation likely if price closes below this support zone.
Trade Idea:
Buy Scenario: If price breaks and holds above 187.346, I'm looking for long opportunities targeting the 189.50 region in line with the green ascending trendline.
Sell Scenario: If price rejects the resistance and breaks below 186.106, I’ll look for short setups toward 184.78 or lower.
Price action is currently consolidating between two key zones following a strong bullish move. We're now watching for a breakout from this wedge pattern.
🔴 Downtrend line acting as resistance.
🟢 Uptrend line forming a rising wedge.
🔵 Key Levels:
Buys Above: 187.346 – Bullish breakout potential if price breaks above this resistance with strong volume.
Sells Below: 186.106 – Bearish continuation likely if price closes below this support zone.
Trade Idea:
Buy Scenario: If price breaks and holds above 187.346, I'm looking for long opportunities targeting the 189.50 region in line with the green ascending trendline.
Sell Scenario: If price rejects the resistance and breaks below 186.106, I’ll look for short setups toward 184.78 or lower.
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.