Structure Summary:
CHoCH (Change of Character) confirmed after price broke the previous lower high, signaling a potential trend reversal.
Price has since formed a bullish falling wedge (blue trendlines), a classic continuation pattern after CHoCH.
Volume spikes during reversal attempts suggest accumulation.
Trade Setup:
Entry: Breakout above wedge resistance.
Stop Loss: Below recent swing low near 3280 area (red zone).
Target: Around 3315–3320 zone (blue box), aligned with previous demand-turned-supply area.
📌 Outlook:
Bullish breakout expected if momentum sustains.
Watch for confirmation candle with volume above the wedge.
Clean R:R setup with tight SL and wide TP potential.
📊 Technical Bias: Bullish
❗Risk Management: Adjust position size based on lot exposure and account size.
CHoCH (Change of Character) confirmed after price broke the previous lower high, signaling a potential trend reversal.
Price has since formed a bullish falling wedge (blue trendlines), a classic continuation pattern after CHoCH.
Volume spikes during reversal attempts suggest accumulation.
Trade Setup:
Entry: Breakout above wedge resistance.
Stop Loss: Below recent swing low near 3280 area (red zone).
Target: Around 3315–3320 zone (blue box), aligned with previous demand-turned-supply area.
📌 Outlook:
Bullish breakout expected if momentum sustains.
Watch for confirmation candle with volume above the wedge.
Clean R:R setup with tight SL and wide TP potential.
📊 Technical Bias: Bullish
❗Risk Management: Adjust position size based on lot exposure and account size.
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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.
Unlock the power of institutional insights! Join us on our journey as we navigate the markets with precision's
t.me/FXbyibm
t.me/FXbyibm
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.