Analysis & Reasoning
Bullish Reversal Zone
The price dropped and found a strong support around 144.30 - 144.35, shown by the sharp rejection wick and a V-shaped recovery.
This area likely served as a demand zone — where buyers stepped in aggressively.
Structure Break / Momentum Shift
After bottoming out, the price broke short-term lower highs, indicating a bullish shift in momentum.
The buy entry is likely placed after a pullback within this new bullish structure, trying to catch the next leg up.
Risk-Reward Setup
Stop loss is placed below recent swing lows to protect against a failed reversal.
Multiple Take Profit Targets are marked:
Target 1 is a conservative intra-day high.
Target 2 likely represents a key resistance or supply level.
Target 3 is the most ambitious, aiming for a full retracement to the prior high.
Volume/Confirmation (assumed)
Though not visible in the screenshot, this kind of trade would typically be backed by confirmation like a bullish engulfing candle, support zone, or even RSI divergence.
Summary of the Buy Setup:
> Reversal trade from a key support zone after a strong bearish move.
> Entry taken after initial bullish confirmation.
> Targets are structured to scale out profits at key resistance points.
> Solid risk-to-reward ratio and structure-aware setup.
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.