Scenario A – Bullish Continuation
Entry (Long): If price bounces from 118500–118575 and closes above EMA9 with bullish candle.
Stop Loss: Below 118450.
Take Profit 1: 118950 (previous high).
Take Profit 2: 119150 (supply zone top).
Confirmation: RSI > 55 and bullish volume.
Scenario B – Bearish Pullback
Entry (Short): If price closes below 118450 and retests it as resistance.
Stop Loss: Above 118600.
Take Profit 1: 118000 (demand zone).
Take Profit 2: 117850 (next BOS zone).
Confirmation: RSI < 45 and strong bearish candle.
Entry (Long): If price bounces from 118500–118575 and closes above EMA9 with bullish candle.
Stop Loss: Below 118450.
Take Profit 1: 118950 (previous high).
Take Profit 2: 119150 (supply zone top).
Confirmation: RSI > 55 and bullish volume.
Scenario B – Bearish Pullback
Entry (Short): If price closes below 118450 and retests it as resistance.
Stop Loss: Above 118600.
Take Profit 1: 118000 (demand zone).
Take Profit 2: 117850 (next BOS zone).
Confirmation: RSI < 45 and strong bearish candle.
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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.