CMW is shaping up well with a clean structural setup. Price action suggests we may be in the process of forming another Last Point of Support or Backup.
Trade Scenario
If price continues to pull back, monitor the highlighted zones for a potential entry. Since we do not yet have a confirmed higher low, the initial stop loss should be placed at the $0.330 low.
Risk management is critical here—avoid overexposure until structure confirms. If a higher low forms as outlined on the chart, the stop can be adjusted to that level.
That said, we are also working with a Gann fourth time breakout. This means price may not pull back immediately. If it breaks above the local high at $0.50, traders can look to the daily timeframe for a clean continuation setup toward the $0.57 zone.
As always, keep it simple and let structure lead. Risk management is the foundation—protect capital first, then let the trade work.
Trade Scenario
If price continues to pull back, monitor the highlighted zones for a potential entry. Since we do not yet have a confirmed higher low, the initial stop loss should be placed at the $0.330 low.
Risk management is critical here—avoid overexposure until structure confirms. If a higher low forms as outlined on the chart, the stop can be adjusted to that level.
That said, we are also working with a Gann fourth time breakout. This means price may not pull back immediately. If it breaks above the local high at $0.50, traders can look to the daily timeframe for a clean continuation setup toward the $0.57 zone.
As always, keep it simple and let structure lead. Risk management is the foundation—protect capital first, then let the trade work.
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.