Trend Lines: Descending trend lines indicate bearish pressure. Price needs to break above these for a bullish reversal.
Support Zone: A strong demand zone is highlighted below, where buyers may step in. A break below could lead to further downside.
Resistance Level: Recent highs act as resistance, with potential selling pressure near this level.
Trading Plan:
Buy: Look for bullish reversal patterns within the support zone. Target resistance or a breakout above trend lines.
Sell: If the price breaks below the support zone, enter a short position targeting the next support.
Risk Management:
Apply proper stop-loss and maintain a 1:2 or better risk-reward ratio. Focus on disciplined execution.
Support Zone: A strong demand zone is highlighted below, where buyers may step in. A break below could lead to further downside.
Resistance Level: Recent highs act as resistance, with potential selling pressure near this level.
Trading Plan:
Buy: Look for bullish reversal patterns within the support zone. Target resistance or a breakout above trend lines.
Sell: If the price breaks below the support zone, enter a short position targeting the next support.
Risk Management:
Apply proper stop-loss and maintain a 1:2 or better risk-reward ratio. Focus on disciplined execution.
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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.
Unlock Market Insights! 🚀
Join our Telegram for expert analysis, free trading signals & real-time updates. Stay ahead in the game.👇
t.me/OliviaGrace_0
Join our Telegram for expert analysis, free trading signals & real-time updates. Stay ahead in the game.👇
t.me/OliviaGrace_0
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.