Technical Analysis:
Bearish Order Block at 3,045
A Bearish Order Block is marked at 50% of a previous price range around 3,045.
This indicates potential resistance, where price may face selling pressure.
Current Price Action
The price is currently 3,023, showing slight bullish momentum (+0.11%).
The market seems to be testing previous highs but struggling to break through.
Trade Setup (Risk-Reward Analysis)
A long position (buy trade) appears to be placed.
The Stop Loss (SL) is set at 3,018.50.
The Take Profit (TP) is set around 3,045.00.
The Risk-to-Reward (R:R) Ratio is favorable, aiming for a higher profit target.
Fair Value Gap (FVG) Around 3,021.30
The FVG at 3,021.30 suggests a liquidity area where price might react.
If price holds above this level, the bullish move may continue.
Possible Scenarios:
Bullish Case: If price maintains above 3,021.30 and gains momentum, it could reach the order block at 3,045.
Bearish Case: If price breaks below the FVG and 3,018.50, selling pressure could take it lower.
Bearish Order Block at 3,045
A Bearish Order Block is marked at 50% of a previous price range around 3,045.
This indicates potential resistance, where price may face selling pressure.
Current Price Action
The price is currently 3,023, showing slight bullish momentum (+0.11%).
The market seems to be testing previous highs but struggling to break through.
Trade Setup (Risk-Reward Analysis)
A long position (buy trade) appears to be placed.
The Stop Loss (SL) is set at 3,018.50.
The Take Profit (TP) is set around 3,045.00.
The Risk-to-Reward (R:R) Ratio is favorable, aiming for a higher profit target.
Fair Value Gap (FVG) Around 3,021.30
The FVG at 3,021.30 suggests a liquidity area where price might react.
If price holds above this level, the bullish move may continue.
Possible Scenarios:
Bullish Case: If price maintains above 3,021.30 and gains momentum, it could reach the order block at 3,045.
Bearish Case: If price breaks below the FVG and 3,018.50, selling pressure could take it 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.