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📉 Descending Trendline Breakout Setup
The price has been in a downtrend, following a descending trendline.
It is currently testing this trendline with signs of potential breakout.
📊 Key Support & Resistance Zones
Support Zone (~187.5 - 189.0): Price has bounced multiple times from this area.
Resistance Zones (~192.5 & ~200.0): First target is around 192.5, then 200.0 if momentum continues.
📈 Possible Bullish Scenario
If price breaks the trendline and holds above 192.5, we could see an upward push towards 200.0.
The expected move follows the drawn path: breakout → retest → continuation.
⚠️ Risk Factors
If the price fails to break above 192.5, it might return to the support zone.
A break below 187.5 would invalidate the bullish outlook.
Overall, this setup suggests watching for a breakout confirmation above resistance before entering long trades. 🚀
📉 Descending Trendline Breakout Setup
The price has been in a downtrend, following a descending trendline.
It is currently testing this trendline with signs of potential breakout.
📊 Key Support & Resistance Zones
Support Zone (~187.5 - 189.0): Price has bounced multiple times from this area.
Resistance Zones (~192.5 & ~200.0): First target is around 192.5, then 200.0 if momentum continues.
📈 Possible Bullish Scenario
If price breaks the trendline and holds above 192.5, we could see an upward push towards 200.0.
The expected move follows the drawn path: breakout → retest → continuation.
⚠️ Risk Factors
If the price fails to break above 192.5, it might return to the support zone.
A break below 187.5 would invalidate the bullish outlook.
Overall, this setup suggests watching for a breakout confirmation above resistance before entering long trades. 🚀
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join my tellegram channel
t.me/JaMesGoldFiGhteR786
join my refferal broker
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t.me/JaMesGoldFiGhteR786
join my refferal broker
xmglobal.com/referral?token=S4yGyqPUmU9uAANtb_YUoA
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.