The price is currently at a key level. We need confirmation on the 15-minute or 5-minute timeframe before considering a long entry.
Note
we need a clear breakout of the 5-minute trendline followed by a pullback and confirmation.Note
4HR:The price formed a bullish engulfing candle at the trendline and key support level, signaling potential upward momentum.
15-Minute:
A breakout from a falling wedge pattern occurred, supported by a clear RSI divergence—confirming the bullish reversal. This breakout also aligned with the price forming a higher high.
Following the breakout, the price pulled back to the previous day’s session Point of Control (POC), where an engulfing candle indicated the pullback was likely complete.
A solid trade setup with a favorable 1:2 risk-to-reward ratio.
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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.