Chart Analysis:
Current Price: $3,039.93
Resistance Level: $3,055.47 (marked as a key level where a sell opportunity is identified).
Target Level: $3,000.73 (suggested as the take-profit area).
Support Zone: Highlighted around $2,900.
Trading Idea:
The price is in an uptrend, but a potential reversal is expected at the $3,055.47 resistance level.
If the price fails to break above this resistance, a short position could be considered.
Entry Strategy: Sell near $3,055.47 upon confirmation of rejection.
Target: A drop towards $3,000.73.
Stop Loss: Above the resistance zone to manage risk.
Conclusion:
This is a counter-trend short setup, aiming for a pullback within the broader bullish trend. Traders should monitor price action near resistance before entering a trade.
Current Price: $3,039.93
Resistance Level: $3,055.47 (marked as a key level where a sell opportunity is identified).
Target Level: $3,000.73 (suggested as the take-profit area).
Support Zone: Highlighted around $2,900.
Trading Idea:
The price is in an uptrend, but a potential reversal is expected at the $3,055.47 resistance level.
If the price fails to break above this resistance, a short position could be considered.
Entry Strategy: Sell near $3,055.47 upon confirmation of rejection.
Target: A drop towards $3,000.73.
Stop Loss: Above the resistance zone to manage risk.
Conclusion:
This is a counter-trend short setup, aiming for a pullback within the broader bullish trend. Traders should monitor price action near resistance before entering a trade.
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.