Trade Idea
Risk/Reward Ratio: 3:1
Duration: Intraday
Expires: 28/05/2025 12:00
Technical Overview
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
- Type: Buy Limit
- Entry: 5,870
- Target: 6,020
- Stop Loss: 5,820
Risk/Reward Ratio: 3:1
Duration: Intraday
Expires: 28/05/2025 12:00
Technical Overview
- Price action continues to respect the primary bullish trend with recent buying off the 78.6% Fibonacci pullback level at 5,868.
- A bullish engulfing candle on the 4H chart reinforces a short-term momentum shift to the upside.
- The 20-period 4H EMA (5,864) is rising and should provide dynamic support near the entry level.
- The setup favors buying dips, aiming for a move to 6,020, while keeping stops tight below key support at 5,820.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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.