🧠 Technical Analysis:
Trend Structure:
The price was following a short-term ascending channel (bullish structure).
Recently, price broke below the lower trendline, indicating a potential bearish shift.
Support Zones:
First support zone: 3210–3214
This is a minor support and could serve as the first potential bounce area.
Second support zone: 3189–3194
This is a stronger historical demand zone. Stronger bounce expected from here if the price continues falling.
Resistance Zone:
Around 3241–3245, which is the recent high and also aligns with prior resistance.
Price Action:
Bearish engulfing candles and a break below the trendline indicate bearish momentum in the short term.
Current price: ~3219. If selling pressure continues, price might retest 3210 or even 3190.
📉 Trading Signal:
✅ Buy Signal 1 – Aggressive Entry
Entry Zone: 3210–3214
SL: Below 3203
TP1: 3235
TP2: 3245
RR: ~1:2+
✅ Buy Signal 2 – Conservative Entry
Entry Zone: 3189–3194
SL: Below 3182
TP1: 3210
TP2: 3235
RR: ~1:3+
📌 Note: Wait for bullish confirmation (e.g., bullish engulfing or pin bar) near either support zone before entering.
🔄 Summary:
Price broke ascending structure = short-term bearish
Look to buy from 3210–3214 (aggressive) or 3189–3194 (conservative) on bullish confirmation.
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Trend Structure:
The price was following a short-term ascending channel (bullish structure).
Recently, price broke below the lower trendline, indicating a potential bearish shift.
Support Zones:
First support zone: 3210–3214
This is a minor support and could serve as the first potential bounce area.
Second support zone: 3189–3194
This is a stronger historical demand zone. Stronger bounce expected from here if the price continues falling.
Resistance Zone:
Around 3241–3245, which is the recent high and also aligns with prior resistance.
Price Action:
Bearish engulfing candles and a break below the trendline indicate bearish momentum in the short term.
Current price: ~3219. If selling pressure continues, price might retest 3210 or even 3190.
📉 Trading Signal:
✅ Buy Signal 1 – Aggressive Entry
Entry Zone: 3210–3214
SL: Below 3203
TP1: 3235
TP2: 3245
RR: ~1:2+
✅ Buy Signal 2 – Conservative Entry
Entry Zone: 3189–3194
SL: Below 3182
TP1: 3210
TP2: 3235
RR: ~1:3+
📌 Note: Wait for bullish confirmation (e.g., bullish engulfing or pin bar) near either support zone before entering.
🔄 Summary:
Price broke ascending structure = short-term bearish
Look to buy from 3210–3214 (aggressive) or 3189–3194 (conservative) on bullish confirmation.
Hit follow, like and comment.
Trade active
Aggressive Buy Entry Triggered!
Trade is running 100+ pips in profit — well done to those who caught it!
Keep locking in gains and trailing your stops to secure profits.
Trade closed: target reached
Just pierced through the target 🎯.
600+ pips 🔥
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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.
✅Free Telegram
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
Related publications
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.