The market structure on the 3H timeframe is showing strong signs of a bullish breakout from a long-standing descending trendline and ascending channel formation.
Key Observations:
Price has broken out of the consolidation zone and is now retesting the breakout area near the $0.79–$0.80 support zone.
This level has acted as a key demand zone multiple times — a strong foundation for a possible continuation.
If price holds above this zone, we may see bullish momentum toward:
1st Target : $1.00230
2nd Target: $1.07882
Major Resistance: $1.20578
If price fails to hold, we could revisit the $0.71552 support before making another attempt upward.
Possible Scenarios:
1. Pullback ➡ Retest ➡ Breakout
2. Deeper correction ➡ Strong rebound from support 🛡
Conclusion: This setup provides a great R:R opportunity with clear invalidation below the $0.715 area. Traders should monitor price action around the breakout zone and look for confirmation before entry.
Stay patient — the market rewards those who wait for the perfect setup!
Key Observations:
Price has broken out of the consolidation zone and is now retesting the breakout area near the $0.79–$0.80 support zone.
This level has acted as a key demand zone multiple times — a strong foundation for a possible continuation.
If price holds above this zone, we may see bullish momentum toward:
1st Target : $1.00230
2nd Target: $1.07882
Major Resistance: $1.20578
If price fails to hold, we could revisit the $0.71552 support before making another attempt upward.
Possible Scenarios:
1. Pullback ➡ Retest ➡ Breakout
2. Deeper correction ➡ Strong rebound from support 🛡
Conclusion: This setup provides a great R:R opportunity with clear invalidation below the $0.715 area. Traders should monitor price action around the breakout zone and look for confirmation before entry.
Stay patient — the market rewards those who wait for the perfect setup!
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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.
Related publications
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.