The price has been consolidating between 2,895 - 2,929, suggesting a range-bound movement.
The 0.618 Fibonacci level (2,908 - 2,910) is acting as a pivot area, where the price has reacted multiple times.
If price breaks and closes above 2,930, it could confirm bullish momentum towards 2,956.
Bullish Breakout & Retest (Buy Setup)
Scenario: If price breaks above 2,930, retests as support, and forms a bullish continuation pattern.
Entry Price: 2,930 - 2931 (after retest would be better)
Stop Loss: 2,923
Take Profit
TP1: 2,945 (Minor resistance)
TP2: 2,956 (Previous Swing High)
Risk-Reward Ratio: 1:3 (Risking ~7-10 pips for ~21-30 pips profit)
Check my profile for high win rate trade signals and strategies.
The 0.618 Fibonacci level (2,908 - 2,910) is acting as a pivot area, where the price has reacted multiple times.
If price breaks and closes above 2,930, it could confirm bullish momentum towards 2,956.
Bullish Breakout & Retest (Buy Setup)
Scenario: If price breaks above 2,930, retests as support, and forms a bullish continuation pattern.
Entry Price: 2,930 - 2931 (after retest would be better)
Stop Loss: 2,923
Take Profit
TP1: 2,945 (Minor resistance)
TP2: 2,956 (Previous Swing High)
Risk-Reward Ratio: 1:3 (Risking ~7-10 pips for ~21-30 pips profit)
Check my profile for high win rate trade signals and strategies.
Trade active
As planned, price breakout.Trade closed: target reached
TP1 reached
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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.