Current Price: ~4277
🔹 Market Structure: Bullish recovery inside an ascending parallel channel.
🔹 Demand / Buy Limit Zone: 4263–4267
🔹 A Morning Star pattern has formed near the demand/support area, showing buyer reaction.
📈 Buy Scenario
Wait for price to retrace toward 4263–4267
Look for bullish confirmation from the demand zone
First hurdle: 4278 Resistance
Next resistance: 4284 Temporary Resistance
Main upside target: 4292–4293
If momentum continues, price may extend toward the upper channel around 4298–4300
⚠️ Invalidation
A strong 1H close below 4257–4258 would weaken this bullish projection.
Key View
4263–4267 Demand holds → 4278 → 4284 → 4292+
Break below 4257 → Buy setup invalid / reassessment required.
Educational analysis only. Trading carries risk. Trade wisely.
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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.