ADRO is showing early bullish signs, including a structural break (CoC) on the Daily Timeframe, a retracement into supply, and support from a daily base zone. The planned entry at 1810 offers a favorable risk–reward profile, with stops safely below structure and targets aligned just under the next supply zone.
Technical Context
1. Change of Character (CoC) → On the daily timeframe, price broke the previous high at 1880, signaling a potential shift in market structure toward bullish momentum.
2. Retracement to Supply Zone → Price has pulled back into the September monthly supply zone, offering a possible area of reaction.
3. Previous Base Zone (Daily) → Current price action is also sitting on a daily base zone, reinforcing confluence for a potential bullish continuation.
Trade Plan
Entry 1810
Stop Loss 1580
Target 2600
Risk (pts) 230
Reward (pts) 790
R:R Ratio 3.4x
Technical Context
1. Change of Character (CoC) → On the daily timeframe, price broke the previous high at 1880, signaling a potential shift in market structure toward bullish momentum.
2. Retracement to Supply Zone → Price has pulled back into the September monthly supply zone, offering a possible area of reaction.
3. Previous Base Zone (Daily) → Current price action is also sitting on a daily base zone, reinforcing confluence for a potential bullish continuation.
Trade Plan
Entry 1810
Stop Loss 1580
Target 2600
Risk (pts) 230
Reward (pts) 790
R:R Ratio 3.4x
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.
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.