We've reached the zone from where a strong sell-off started back at the end of February. This area is now acting as resistance, and as we approach it, it makes sense to lock in longs — if you were holding any.
I’m not planning to short on a potential pullback; I'd rather wait for a deeper correction and then look for new long setups. The asset remains in an uptrend on the weekly chart, and as long as we stay above 74,500, I don't see any reason for confident short trades.
📝Trading Plan:
Long entries:
1. After a pullback — watching for bullish candlestick confirmations.
2. On a strong breakout above 96,300.
I’m not planning to short on a potential pullback; I'd rather wait for a deeper correction and then look for new long setups. The asset remains in an uptrend on the weekly chart, and as long as we stay above 74,500, I don't see any reason for confident short trades.
📝Trading Plan:
Long entries:
1. After a pullback — watching for bullish candlestick confirmations.
2. On a strong breakout above 96,300.
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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.