✅ Validated Trade Plan Adjustments:
Immediate Action (Current Price: $116,808)
Price is testing resistance ($116,700–$117,100).
DO NOT BUY here – risk of rejection is high.
Watch for:
🟢 Breakout confirmation: Close above $117,100 → Long to $118,000+.
🔴 Rejection signal: Bearish candle + RSI drop → Short target $116,100.
Updated Scenarios
Breakout Above $117,100 (New Entry):
Trigger: 15-min close > $117,100 + volume surge.
Entry: $117,120–$117,150.
Stop Loss: $116,900.
Target: $118,000 (scalp), then $118,415–$118,820.
Rejection at Resistance (Short Setup):
Trigger: Bearish pin/reversal candle at $116,700–$117,100 + RSI < 45.
Entry: $116,650–$116,700.
Stop Loss: $117,150.
Target: $116,100 (support), then $115,870.
Support Bounce Trade (Unchanged):
Trigger: Dip to $116,045–$116,100 + bullish reversal candle.
Stop Loss: $115,750.
Target: $116,700–$117,100.
🚨 Critical Notes:
Ignore $118,415–$118,820 "Squouts":
This appears to be a data error (likely mislabeled resistance). Support cannot be above current price.
Monitor RSI: Currently neutral (51.64) → Breakout/rejection will clarify direction.
Key Risk: Close below $115,870 invalidates bullish structure → Target $115,500.
📊 Execution Summary:
"Wait for breakout above $117,100 (long) or rejection at resistance (short). Original support ($116,100) remains valid for longs, but avoid buying near current resistance."
Verify volume on breaks – false breakouts are likely in this zone
Immediate Action (Current Price: $116,808)
Price is testing resistance ($116,700–$117,100).
DO NOT BUY here – risk of rejection is high.
Watch for:
🟢 Breakout confirmation: Close above $117,100 → Long to $118,000+.
🔴 Rejection signal: Bearish candle + RSI drop → Short target $116,100.
Updated Scenarios
Breakout Above $117,100 (New Entry):
Trigger: 15-min close > $117,100 + volume surge.
Entry: $117,120–$117,150.
Stop Loss: $116,900.
Target: $118,000 (scalp), then $118,415–$118,820.
Rejection at Resistance (Short Setup):
Trigger: Bearish pin/reversal candle at $116,700–$117,100 + RSI < 45.
Entry: $116,650–$116,700.
Stop Loss: $117,150.
Target: $116,100 (support), then $115,870.
Support Bounce Trade (Unchanged):
Trigger: Dip to $116,045–$116,100 + bullish reversal candle.
Stop Loss: $115,750.
Target: $116,700–$117,100.
🚨 Critical Notes:
Ignore $118,415–$118,820 "Squouts":
This appears to be a data error (likely mislabeled resistance). Support cannot be above current price.
Monitor RSI: Currently neutral (51.64) → Breakout/rejection will clarify direction.
Key Risk: Close below $115,870 invalidates bullish structure → Target $115,500.
📊 Execution Summary:
"Wait for breakout above $117,100 (long) or rejection at resistance (short). Original support ($116,100) remains valid for longs, but avoid buying near current resistance."
Verify volume on breaks – false breakouts are likely in this zone
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.