The price action has formed a classic 'Cup' or rounding bottom pattern.
This indicates a gradual accumulation phase and a clear shift in momentum from sellers to buyers.
Breakout: The price successfully broke out of the neckline resistance at 580.55.
The 580.55 mark held firm as new support, followed by a strong bullish bounce that confirms the breakout's validity.
Volume Confirmation: The initial breakout was accompanied by a noticeable surge in buying volume, adding significant weight to the upward momentum.
Trade Setup:
Direction (Bias): Long.
Entry Point: Current market price around the 600 - 605 zone.
Target: 645.
This is calculated using the measured move of the cup's depth (roughly 515 to 580), projected upward from the breakout line.
Stop Loss: 565. A daily close below the recent retest wick and the 580.55 support zone would invalidate this bullish setup.
Expected Duration: Short to medium term (1 to 4 weeks).
This indicates a gradual accumulation phase and a clear shift in momentum from sellers to buyers.
Breakout: The price successfully broke out of the neckline resistance at 580.55.
The 580.55 mark held firm as new support, followed by a strong bullish bounce that confirms the breakout's validity.
Volume Confirmation: The initial breakout was accompanied by a noticeable surge in buying volume, adding significant weight to the upward momentum.
Trade Setup:
Direction (Bias): Long.
Entry Point: Current market price around the 600 - 605 zone.
Target: 645.
This is calculated using the measured move of the cup's depth (roughly 515 to 580), projected upward from the breakout line.
Stop Loss: 565. A daily close below the recent retest wick and the 580.55 support zone would invalidate this bullish setup.
Expected Duration: Short to medium term (1 to 4 weeks).
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.