My View CNXAUTO
The chart is currently forming a range-bound structure between the marked support and resistance levels.
The lower level acts as a buying zone, while the upper level acts as a selling zone.
The red line is the key invalidation level / strict stop-loss for both scenarios.
📈 Bullish Scenario (Support Zone):
Near the lower support, a bullish candlestick reversal pattern is forming, indicating buying interest.
A reversal move is expected if price sustains above support.
Upside momentum / uptrend is possible only if price breaks and closes above the red line.
📉 Bearish Scenario (Resistance Zone):
Near the upper resistance, a bearish candlestick pattern is forming, suggesting selling pressure.
Selling continuation is expected if price gets rejected from resistance.
Downtrend is possible only if price breaks and closes below the red line.
⚠️ Risk Management:
Strictly follow the stop-loss marked by the red line.
Trade only after confirmation candle close.
Avoid over-trading within the range.
📌 Disclaimer:
This analysis reflects my personal view based on technical analysis and price action.
It is not financial advice. Markets are risky—please do your own research and consult a financial advisor before trading. I am not responsible for any profit or loss.
The chart is currently forming a range-bound structure between the marked support and resistance levels.
The lower level acts as a buying zone, while the upper level acts as a selling zone.
The red line is the key invalidation level / strict stop-loss for both scenarios.
📈 Bullish Scenario (Support Zone):
Near the lower support, a bullish candlestick reversal pattern is forming, indicating buying interest.
A reversal move is expected if price sustains above support.
Upside momentum / uptrend is possible only if price breaks and closes above the red line.
📉 Bearish Scenario (Resistance Zone):
Near the upper resistance, a bearish candlestick pattern is forming, suggesting selling pressure.
Selling continuation is expected if price gets rejected from resistance.
Downtrend is possible only if price breaks and closes below the red line.
⚠️ Risk Management:
Strictly follow the stop-loss marked by the red line.
Trade only after confirmation candle close.
Avoid over-trading within the range.
📌 Disclaimer:
This analysis reflects my personal view based on technical analysis and price action.
It is not financial advice. Markets are risky—please do your own research and consult a financial advisor before trading. I am not responsible for any profit or loss.
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.