Price has been locked in a persistent downtrend for over a year, showing little relief. However, November’s candle tested a key demand zone and attracted a strong bid. This reaction suggests the downtrend may be nearing completion. While we don’t yet have full confirmation of a trend reversal, the risk‑to‑reward profile is compelling.
Trade Scenario
• Keep the approach straightforward: the initial target sits at the yearly S1 pivot.
• Should price break through that level with conviction, the next objective would be the 50% retracement zone. Projected from the start of the downtrend and November low.
Should the November low give way, expect a sharp push lower. If this move is followed by a monthly bullish hammer or doji candle close above the pivot, the setup remains valid with an even more favorable risk‑to‑reward dynamic.
Trade Scenario
• Keep the approach straightforward: the initial target sits at the yearly S1 pivot.
• Should price break through that level with conviction, the next objective would be the 50% retracement zone. Projected from the start of the downtrend and November low.
Should the November low give way, expect a sharp push lower. If this move is followed by a monthly bullish hammer or doji candle close above the pivot, the setup remains valid with an even more favorable risk‑to‑reward dynamic.
Catatan
lets see if we get a sweep of the lows.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.