1. Successful Retest (Bullish Confirmation):
If price touches the breakout level (~25,440) and bounces back up, it confirms strong support.
This is a buying opportunity for traders.
Entry: Near the support level (25,440).
Stop Loss: Just below the support (e.g., 25,400).
Target: Next resistance levels like 25,520 or higher.
❌ 2. Failed Retest (False Breakout):
If price breaks back below 25,440, it can be a false breakout.
Price might re-enter the sideways range or even go into a downtrend.
Traders should avoid long trades or may even consider short positions if it falls below 25,292 (support zone).
📊 What to Watch Now:
Price behavior near 25,440.
Volume: Low volume = weak retest; Strong bounce with volume = bullish.
Candle patterns: Bullish reversal candles (e.g., hammer, bullish engulfing) near 25,440 can confirm upside.
If price touches the breakout level (~25,440) and bounces back up, it confirms strong support.
This is a buying opportunity for traders.
Entry: Near the support level (25,440).
Stop Loss: Just below the support (e.g., 25,400).
Target: Next resistance levels like 25,520 or higher.
❌ 2. Failed Retest (False Breakout):
If price breaks back below 25,440, it can be a false breakout.
Price might re-enter the sideways range or even go into a downtrend.
Traders should avoid long trades or may even consider short positions if it falls below 25,292 (support zone).
📊 What to Watch Now:
Price behavior near 25,440.
Volume: Low volume = weak retest; Strong bounce with volume = bullish.
Candle patterns: Bullish reversal candles (e.g., hammer, bullish engulfing) near 25,440 can confirm upside.
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.