After a consolidation and indecision phase, price eventually broke out of the range with good bullish momentum, signifying a probable continuation of the trend. The breakout candle closed above the resistance level, making it a new support area (entry zone). This is in line with prior structure and volume accumulation.
Entry Zone: 3,258 – 3,261
Stop Loss (SL): Below 3,255 to guard against false breaks
Take Profit 1 (TP1): 3,264 (important resistance re-test)
Take Profit 2 (TP2): 3,267 (former swing high)
This setup has a good risk-reward and is consistent with the sentiment after a liquidity pull from lower levels.
Reminder: Wait for a small retracement or confirmation prior to entry to minimize drawdown. Suitable for breakout traders who want to capture momentum early.
Entry Zone: 3,258 – 3,261
Stop Loss (SL): Below 3,255 to guard against false breaks
Take Profit 1 (TP1): 3,264 (important resistance re-test)
Take Profit 2 (TP2): 3,267 (former swing high)
This setup has a good risk-reward and is consistent with the sentiment after a liquidity pull from lower levels.
Reminder: Wait for a small retracement or confirmation prior to entry to minimize drawdown. Suitable for breakout traders who want to capture momentum early.
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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.
Unlock your winning setups Grab them FREE and level up your trades! 🔥 No strings attached, just pure profit potential! t.me/+MHVk0E7vVpxiOTc8
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.