Bullish Trade Setup (Long Position)
1. Entry Point: Around $2,904 - $2,905, confirming the breakout and retest as support.
2. Stop-Loss: Below $2,894, in case the price reverses.
3. Take-Profit Targets:
First target: $2,920 (mid-level resistance).
Second target: $2,931 - $2,940 (major resistance zone).
4. Risk-Reward Ratio: At least 1:2, ensuring a favorable setup.
Alternative Bearish Scenario
If the price falls below $2,904 and closes below $2,894, then:
A short trade setup could target $2,880 - $2,870 as the next support.
1. Entry Point: Around $2,904 - $2,905, confirming the breakout and retest as support.
2. Stop-Loss: Below $2,894, in case the price reverses.
3. Take-Profit Targets:
First target: $2,920 (mid-level resistance).
Second target: $2,931 - $2,940 (major resistance zone).
4. Risk-Reward Ratio: At least 1:2, ensuring a favorable setup.
Alternative Bearish Scenario
If the price falls below $2,904 and closes below $2,894, then:
A short trade setup could target $2,880 - $2,870 as the next support.
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.