RUNE has exhibited a bullish breakout from its prevailing downtrend resistance. This shift often indicates the potential commencement of a new upward trend or, at the very least, a temporary bullish phase.
Notably, we're anticipating a potential pullback towards the recently breached trendline. Historically, a retest of such a trendline after a breakout can provide a robust buying opportunity. If the price does revisit the trendline and respects it as a newfound support, it would pose an excellent buy opportunity. It's expected that the trendline will act as a strong defensive line against any bearish push.
The upside target for this potential long setup has been marked on the chart. As always, it's vital to ensure you have a clear exit strategy in place.
Ensuring proper risk management is critical. Keep a keen eye on the price action as it approaches the trendline. Should the price close beneath the trendline, it would likely invalidate our bullish outlook, suggesting the need for a strategy reassessment.
Notably, we're anticipating a potential pullback towards the recently breached trendline. Historically, a retest of such a trendline after a breakout can provide a robust buying opportunity. If the price does revisit the trendline and respects it as a newfound support, it would pose an excellent buy opportunity. It's expected that the trendline will act as a strong defensive line against any bearish push.
The upside target for this potential long setup has been marked on the chart. As always, it's vital to ensure you have a clear exit strategy in place.
Ensuring proper risk management is critical. Keep a keen eye on the price action as it approaches the trendline. Should the price close beneath the trendline, it would likely invalidate our bullish outlook, suggesting the need for a strategy reassessment.
Trade active
Trade closed: target reached
Immediate layer of the medium target achievedTrade active
Final target level shown with blackTrade closed: target reached
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
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.