Weekly Overview:
UNI has been hovering around a significant weekly support/resistance zone for several weeks. Last week's strong bullish candle signals growing buying interest at this level 🟢.
Daily Chart Insight:
The daily structure remains bullish ✅. Price has pulled back into the discount zone, showing momentum that aligns with continuation. This setup is ideal for trend-following traders looking for a fresh leg upward.
4H Chart Analysis:
Price has broken above the descending trendline ⤴️. However, to confirm a clean reversal, I want to see a break above the bearish structure and the 4H 50EMA. Once that happens, I’ll zoom in to lower timeframes to look for confirmation entry opportunities 📈.
Plan:
UNI has been hovering around a significant weekly support/resistance zone for several weeks. Last week's strong bullish candle signals growing buying interest at this level 🟢.
Daily Chart Insight:
The daily structure remains bullish ✅. Price has pulled back into the discount zone, showing momentum that aligns with continuation. This setup is ideal for trend-following traders looking for a fresh leg upward.
4H Chart Analysis:
Price has broken above the descending trendline ⤴️. However, to confirm a clean reversal, I want to see a break above the bearish structure and the 4H 50EMA. Once that happens, I’ll zoom in to lower timeframes to look for confirmation entry opportunities 📈.
Plan:
- Bias: Bullish
- Entry: After break of 4H bearish structure and 50EMA, monitor LTF for confirmation
- Targets: Short-term swing to previous highs; scale out on key resistance levels
- Invalidation: Close back below the trendline and bearish structure
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.