- Timeframe: Daily (D1)
- Position Type: Long (Buy)
Entry Point: 0.4117
The entry is positioned at a retest of a support-turned-pivot level, aiming to catch the upward momentum after recent bullish candles.
Stop Loss (SL): 0.3449
Placed below a strong support area and recent swing low, this stop limits the downside risk to around -17.43% from entry.
Take Profit (TP): 0.6427
Targeting the next major resistance zone, this level offers a potential gain of approximately +53.87% from entry.
Risk/Reward Ratio: 3.09
A well-balanced setup with more than 3 times the reward compared to the risk, making it attractive for swing trading.
Technical Outlook:
Price has recently rebounded from a local low and broken above short-term resistance, suggesting a possible bullish reversal. The entry at 0.4117 allows positioning before a potential rally toward the 0.6427 resistance zone.
Bullish Scenario: Sustained bullish momentum from 0.4117 could push price toward 0.6427, especially if daily closes remain above 0.4668 (yellow dotted line).
Bearish Scenario: A drop below 0.3449 would invalidate the setup and may signal a return to the broader downtrend.
Summary:
The trade is structured for a high R/R swing entry, buying near a strong technical level with a stop below recent support and a target aligned with previous resistance highs. Monitoring volume and overall market sentiment is crucial to validate the breakout strength.
- Position Type: Long (Buy)
Entry Point: 0.4117
The entry is positioned at a retest of a support-turned-pivot level, aiming to catch the upward momentum after recent bullish candles.
Stop Loss (SL): 0.3449
Placed below a strong support area and recent swing low, this stop limits the downside risk to around -17.43% from entry.
Take Profit (TP): 0.6427
Targeting the next major resistance zone, this level offers a potential gain of approximately +53.87% from entry.
Risk/Reward Ratio: 3.09
A well-balanced setup with more than 3 times the reward compared to the risk, making it attractive for swing trading.
Technical Outlook:
Price has recently rebounded from a local low and broken above short-term resistance, suggesting a possible bullish reversal. The entry at 0.4117 allows positioning before a potential rally toward the 0.6427 resistance zone.
Bullish Scenario: Sustained bullish momentum from 0.4117 could push price toward 0.6427, especially if daily closes remain above 0.4668 (yellow dotted line).
Bearish Scenario: A drop below 0.3449 would invalidate the setup and may signal a return to the broader downtrend.
Summary:
The trade is structured for a high R/R swing entry, buying near a strong technical level with a stop below recent support and a target aligned with previous resistance highs. Monitoring volume and overall market sentiment is crucial to validate the breakout strength.
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.
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.