Pattern and Structure:
The chart displays a harmonic pattern, possibly a Gartley or Bat formation, with the key points X, A, B, C, and D marked.
A broadening wedge (or expanding triangle) is also forming, showing increasing volatility.
Key Price Levels
Current Price: $1.423
Resistance Zone: $1.80 - $2.10
Support Zone: $1.15 - $1.35
Trade Setup
The chart suggests a bullish breakout scenario, with a target of $1.80 - $2.10.
The risk zone (stop-loss) is marked around $1.15, indicating a risk-reward ratio favoring long positions.
Conclusion
Bullish bias is evident, but confirmation of a breakout above $1.50 would add more confidence.
Traders might look for long entries above $1.50, targeting $1.80 - $2.10.
A drop below $1.15 would invalidate this bullish scenario, signaling a retest of lower levels.
The chart displays a harmonic pattern, possibly a Gartley or Bat formation, with the key points X, A, B, C, and D marked.
A broadening wedge (or expanding triangle) is also forming, showing increasing volatility.
Key Price Levels
Current Price: $1.423
Resistance Zone: $1.80 - $2.10
Support Zone: $1.15 - $1.35
Trade Setup
The chart suggests a bullish breakout scenario, with a target of $1.80 - $2.10.
The risk zone (stop-loss) is marked around $1.15, indicating a risk-reward ratio favoring long positions.
Conclusion
Bullish bias is evident, but confirmation of a breakout above $1.50 would add more confidence.
Traders might look for long entries above $1.50, targeting $1.80 - $2.10.
A drop below $1.15 would invalidate this bullish scenario, signaling a retest of lower levels.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.