📊 Market Context
After a sharp selloff from the $3,160 region to sub-$2,980 levels, the market is now in recovery/consolidation mode.
Market currently hovers around $3120 after bouncing from below $2,980, indicating buyer interest.
📏 Fibonacci + Support Confluence Zones
✅ Buy Zone 1 – $3095–3100
Reason: Retest of strong horizontal support.
Signal to Enter Long: Bullish engulfing / hammer on M5/M15 + RSI divergence.
Target: $3,110 (first), $3,120+ (extended).
✅ Buy Zone 2 – 3070-3075
Reason: Previous bottom, possible double bottom scenario forming.
Signal to Enter Long: Strong rejection wick / double bottom + volume surge.
Target: $3085 first, then trail till $3,100.
🔁 Retest Logic
Wait for price to retest any of these zones on low volume → watch for bullish candle close.
Ideal scalping trade: Enter on confirmation, small SL, tight TP.
⚠️ Important Notes
Avoid entering mid-range trades without pullback confirmation.
Aggressive buys can be scalped on momentum only if volume supports.
Always monitor for news or sudden volume spikes which can invalidate pullback zones.
Please follow, like, comment and share to get more analysis daily.
After a sharp selloff from the $3,160 region to sub-$2,980 levels, the market is now in recovery/consolidation mode.
Market currently hovers around $3120 after bouncing from below $2,980, indicating buyer interest.
📏 Fibonacci + Support Confluence Zones
✅ Buy Zone 1 – $3095–3100
Reason: Retest of strong horizontal support.
Signal to Enter Long: Bullish engulfing / hammer on M5/M15 + RSI divergence.
Target: $3,110 (first), $3,120+ (extended).
✅ Buy Zone 2 – 3070-3075
Reason: Previous bottom, possible double bottom scenario forming.
Signal to Enter Long: Strong rejection wick / double bottom + volume surge.
Target: $3085 first, then trail till $3,100.
🔁 Retest Logic
Wait for price to retest any of these zones on low volume → watch for bullish candle close.
Ideal scalping trade: Enter on confirmation, small SL, tight TP.
⚠️ Important Notes
Avoid entering mid-range trades without pullback confirmation.
Aggressive buys can be scalped on momentum only if volume supports.
Always monitor for news or sudden volume spikes which can invalidate pullback zones.
Please follow, like, comment and share to get more analysis daily.
Trade active
Up 300+ pips so far, take some, and hold rest of the position with SL.
Trade closed: target reached
600+ pips collected. Close all.
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Twitter 👇
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t.me/+6YQX9c4-BiQ2M2M8
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Related publications
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.
✅Free Telegram
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
t.me/+6YQX9c4-BiQ2M2M8
Twitter 👇
twitter.com/QuinnGoldTrader
Related publications
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.