The instrument has set two highs — 3,352 and 3,331. The second level has already been taken out, but it still influences the current price structure. These levels are serving as targets for a potential buy setup.
At the moment, a violet consolidation zone has formed. There have been three successful attempts to sweep the recent lows. Based on this price action, a trading plan is taking shape. Personally, if I see a push above 3,317, I’ll look to enter long. Targets were outlined earlier.
It’s important to wait for a clear breakout above this level, because locally the price is still in a downtrend.
At the moment, a violet consolidation zone has formed. There have been three successful attempts to sweep the recent lows. Based on this price action, a trading plan is taking shape. Personally, if I see a push above 3,317, I’ll look to enter long. Targets were outlined earlier.
It’s important to wait for a clear breakout above this level, because locally the price is still in a downtrend.
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.