Instrument: Unspecified (likely XAU/USD or an index, judging by the price range)
Current Price: ~3,250.100
Indicators Used:
EMA 50 (Red): 3,284.255
EMA 200 (Blue): 3,287.152
🟣 Key Zones:
Support Zone: Around 3,200 – a strong demand zone where price previously bounced.
Target Zone: Around 3,450 – the last major resistance and recent high.
📉 Current Price Action:
Price recently tested the support zone and is forming a potential double bottom pattern.
EMAs are above the price, indicating a short-term bearish trend, but the price holding support may suggest a possible reversal.
A bullish trajectory is drawn, projecting a potential rise toward the target zone at 3,450.
📈 Potential Trade Idea (Hypothetical):
Entry: Near current price or on pullback to the small support box (~3,240)
Stop-loss: Below the major support (~3,190)
Take-profit: Around 3,450
⚠️ Key Considerations:
Price needs to break above the EMAs to confirm momentum shift.
Watch for confirmation with bullish candlesticks or volume spike.
Failure to hold the 3,200 support could invalidate this setup.
Current Price: ~3,250.100
Indicators Used:
EMA 50 (Red): 3,284.255
EMA 200 (Blue): 3,287.152
🟣 Key Zones:
Support Zone: Around 3,200 – a strong demand zone where price previously bounced.
Target Zone: Around 3,450 – the last major resistance and recent high.
📉 Current Price Action:
Price recently tested the support zone and is forming a potential double bottom pattern.
EMAs are above the price, indicating a short-term bearish trend, but the price holding support may suggest a possible reversal.
A bullish trajectory is drawn, projecting a potential rise toward the target zone at 3,450.
📈 Potential Trade Idea (Hypothetical):
Entry: Near current price or on pullback to the small support box (~3,240)
Stop-loss: Below the major support (~3,190)
Take-profit: Around 3,450
⚠️ Key Considerations:
Price needs to break above the EMAs to confirm momentum shift.
Watch for confirmation with bullish candlesticks or volume spike.
Failure to hold the 3,200 support could invalidate this setup.
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Disclaimer
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JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
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.