The market structure shows a retracement after a strong bullish push, creating a potential buying opportunity at the current dip. The entry aligns with a key support level, indicating a likely bounce.
Entry Point: Positioned around $3,028.630
Stop Loss (SL): Placed at $3,020.110 — providing a safety net in case the market moves against the trade.
Take Profit (TP) Levels:
TP 1: $3,040.290 — an initial conservative target for partial profits.
TP 2: $3,051.053 — a more ambitious target capturing the larger price move.
setup presents a strategic long trade with a balanced risk-reward ratio and clear TP levels. If the price respects the support and bullish momentum continues, reaching TP1 and TP2 is realistic.
Entry Point: Positioned around $3,028.630
Stop Loss (SL): Placed at $3,020.110 — providing a safety net in case the market moves against the trade.
Take Profit (TP) Levels:
TP 1: $3,040.290 — an initial conservative target for partial profits.
TP 2: $3,051.053 — a more ambitious target capturing the larger price move.
setup presents a strategic long trade with a balanced risk-reward ratio and clear TP levels. If the price respects the support and bullish momentum continues, reaching TP1 and TP2 is realistic.
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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.