Price has been moving between a well-defined 1H support at 0.88016 and resistance at 0.88354, creating a clean range for intraday plays.
We recently saw price reject from 1H support, bounce off the ascending trendline, and begin pushing upward with bullish momentum. The MACD is attempting a bullish crossover, indicating possible continuation to the upside.
Trade Idea:
• Bias: Bullish short-term
• Entry: On retest of the ascending trendline or break above 0.88354
• Targets:
• TP1: 0.88354 (range resistance)
• TP2: 0.88600 (previous swing high)
• SL: Below trendline & 1H support (~0.87900)
Alternative Setup:
If price rejects 0.88354 again and breaks below the trendline, a short opportunity could develop back toward 0.88016 or even 0.87892.
Structure to Watch:
• Range: 0.88016–0.88354
• Trendline: Currently acting as dynamic support
• MACD: Watching for crossover confirmation
We recently saw price reject from 1H support, bounce off the ascending trendline, and begin pushing upward with bullish momentum. The MACD is attempting a bullish crossover, indicating possible continuation to the upside.
Trade Idea:
• Bias: Bullish short-term
• Entry: On retest of the ascending trendline or break above 0.88354
• Targets:
• TP1: 0.88354 (range resistance)
• TP2: 0.88600 (previous swing high)
• SL: Below trendline & 1H support (~0.87900)
Alternative Setup:
If price rejects 0.88354 again and breaks below the trendline, a short opportunity could develop back toward 0.88016 or even 0.87892.
Structure to Watch:
• Range: 0.88016–0.88354
• Trendline: Currently acting as dynamic support
• MACD: Watching for crossover confirmation
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.