Current Price: $258.01
Trend: Uptrend channel (bullish)
The chart shows a rising parallel channel, and the price is currently trading near the upper region of the channel — suggesting possible short-term correction before resuming the uptrend.
🧭 Key Levels
Buy Entry Point: $223.34 – $223.68
This zone is highlighted as a strong demand/support area. Price may retrace to this zone before resuming upward.
Stop Loss: $211.44
Below this level, bullish structure would be invalidated.
Target Point: $280.74 – $280.80
This is the projected take-profit zone, aligning with the top of the channel extension.
🔍 Projection
Expected move:
Price might break below the current trend channel, retest the support zone around $223, and then bounce upward toward the $280 target.
This setup represents a buy-the-dip strategy inside a long-term uptrend.
⚠️ Risk Management
Risk-to-Reward Ratio ≈ 1:4, favorable setup.
Entry should only be considered if price confirms reversal signals (e.g., bullish candlestick patterns) near $223 support.
Trend: Uptrend channel (bullish)
The chart shows a rising parallel channel, and the price is currently trading near the upper region of the channel — suggesting possible short-term correction before resuming the uptrend.
🧭 Key Levels
Buy Entry Point: $223.34 – $223.68
This zone is highlighted as a strong demand/support area. Price may retrace to this zone before resuming upward.
Stop Loss: $211.44
Below this level, bullish structure would be invalidated.
Target Point: $280.74 – $280.80
This is the projected take-profit zone, aligning with the top of the channel extension.
🔍 Projection
Expected move:
Price might break below the current trend channel, retest the support zone around $223, and then bounce upward toward the $280 target.
This setup represents a buy-the-dip strategy inside a long-term uptrend.
⚠️ Risk Management
Risk-to-Reward Ratio ≈ 1:4, favorable setup.
Entry should only be considered if price confirms reversal signals (e.g., bullish candlestick patterns) near $223 support.
join my telegram channel t.me/goldmitalteamhttps://t.me/goldmitalteam
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.
join my telegram channel t.me/goldmitalteamhttps://t.me/goldmitalteam
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.