A previous uptrend was followed by a sharp drop.
The price recently broke below the trend cloud, indicating a shift in momentum.
The last long signal appeared near $2,885-$2,890, meaning a potential support zone.
If the price sustains above $2,900, a bullish swing trade is possible.
A breakdown below $2,885 might indicate further downside.
Recommended Swing Trading Strategy:
Entry Points:
Bullish Swing Trade: Enter long near $2,890-$2,900 if support holds.
Bearish Swing Trade: Enter short if price breaks below $2,885 with momentum.
Exit Points (Take Profit & Stop Loss):
Long Position:
Target: $2,920 - $2,930
Stop-Loss: Below $2,880
Short Position:
Target: $2,870 - $2,860
Stop-Loss: Above $2,910
Trade Range:
Support: $2,885 - $2,890
Resistance: $2,904 - $2,920
Breakout Levels: Above $2,920 for bullish continuation, below $2,885 for bearish move.
The price recently broke below the trend cloud, indicating a shift in momentum.
The last long signal appeared near $2,885-$2,890, meaning a potential support zone.
If the price sustains above $2,900, a bullish swing trade is possible.
A breakdown below $2,885 might indicate further downside.
Recommended Swing Trading Strategy:
Entry Points:
Bullish Swing Trade: Enter long near $2,890-$2,900 if support holds.
Bearish Swing Trade: Enter short if price breaks below $2,885 with momentum.
Exit Points (Take Profit & Stop Loss):
Long Position:
Target: $2,920 - $2,930
Stop-Loss: Below $2,880
Short Position:
Target: $2,870 - $2,860
Stop-Loss: Above $2,910
Trade Range:
Support: $2,885 - $2,890
Resistance: $2,904 - $2,920
Breakout Levels: Above $2,920 for bullish continuation, below $2,885 for bearish move.
Trade active
Indicator closed the trade and took profit. Trade closed: target reached
Closed the long trade as target 1920 is reached
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.