Price is moving within a descending channel (purple lines).
Support Zone: ~3,340–3,360
Resistance Zone: ~3,410–3,430
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🔄 Trade Setup Analysis
✅ Scenario 1: Reversal at Support
Expected Path: Price dips into the support zone and bounces back toward resistance.
Bullish Reversal Signal: If there's a bullish engulfing, hammer, or strong volume bounce in the support area, it can trigger a long entry.
Target: Resistance zone (~3,420)
Stop Loss: Below the support zone (~3,335 or lower)
❌ Scenario 2: Breakdown Below Support
If price fails to hold the support zone and breaks below with high momentum, this invalidates the reversal setup.
Next step: Look for retest and rejection of broken support before entering short.
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🧠 Strategic Notes:
This looks like a classic channel-down with potential bullish breakout setup.
The blue projection path suggests a buy-the-dip plan, targeting a reversal from support.
You could also wait for confirmation, such as:
A break and close above the channel's upper trendline.
Bullish divergence on RSI or MACD near the support zone.
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Would you like a precise trade plan with entry, SL, and TP values? Or confirmation tools (indicators or confluences) for this strategy?
Support Zone: ~3,340–3,360
Resistance Zone: ~3,410–3,430
---
🔄 Trade Setup Analysis
✅ Scenario 1: Reversal at Support
Expected Path: Price dips into the support zone and bounces back toward resistance.
Bullish Reversal Signal: If there's a bullish engulfing, hammer, or strong volume bounce in the support area, it can trigger a long entry.
Target: Resistance zone (~3,420)
Stop Loss: Below the support zone (~3,335 or lower)
❌ Scenario 2: Breakdown Below Support
If price fails to hold the support zone and breaks below with high momentum, this invalidates the reversal setup.
Next step: Look for retest and rejection of broken support before entering short.
---
🧠 Strategic Notes:
This looks like a classic channel-down with potential bullish breakout setup.
The blue projection path suggests a buy-the-dip plan, targeting a reversal from support.
You could also wait for confirmation, such as:
A break and close above the channel's upper trendline.
Bullish divergence on RSI or MACD near the support zone.
---
Would you like a precise trade plan with entry, SL, and TP values? Or confirmation tools (indicators or confluences) for this strategy?
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.