Bearish Trade Setup (Short Position)
1. Entry Point: Near 146.90 - 147.00, if the price shows rejection (e.g., bearish candlestick patterns like a shooting star, engulfing, or pin bar).
2. Stop-Loss: Just above 147.20 - 147.30, to protect against a breakout.
3. Take-Profit Targets:
First target: 146.00 (short-term support).
Second target: 145.00 (major support zone shown in the chart).
4. Risk-Reward Ratio: At least 1:2 or 1:3, ensuring the potential reward is greater than the risk.
Alternative Bullish Breakout Scenario
If price breaks above 147.30 with strong momentum:
Look for buy opportunities after a retest of 147.00 as support.
Target higher levels, such as 147.80 - 148.00.
1. Entry Point: Near 146.90 - 147.00, if the price shows rejection (e.g., bearish candlestick patterns like a shooting star, engulfing, or pin bar).
2. Stop-Loss: Just above 147.20 - 147.30, to protect against a breakout.
3. Take-Profit Targets:
First target: 146.00 (short-term support).
Second target: 145.00 (major support zone shown in the chart).
4. Risk-Reward Ratio: At least 1:2 or 1:3, ensuring the potential reward is greater than the risk.
Alternative Bullish Breakout Scenario
If price breaks above 147.30 with strong momentum:
Look for buy opportunities after a retest of 147.00 as support.
Target higher levels, such as 147.80 - 148.00.
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.