Green zone is strong support (on ) (136-157) dating back from July 2017. The reason I say strong support is because it has never been tested since July 2017. Usually 1st rounded retest (i.e.price coming back to the level after more than 1 year) of always gives a solid reaction, hence high probability of a temporary bounce towards the red resistance levels above at 198 (likely) and 221 (unlikely).
Hidden on (higher low on but lower low price) clearly visible (see yellow lines on picture)
in the making (see picture)
Overall, some good evidence of a bounce upwards. However, we are still in a bear market so counter trend trade is very risky.
Without risk there is no reward, so I'll play this based on the factors mentioned above.
Entry: Conservative Entry should be somewhere at the Green support (between 136-157). Aggressive entry can be around 180 (I've already scaled in at 180 at the time of writing this analysis, will add more if green is tested)
SL: Just below the at around 130
Decent R:R of 3.34 if T1 is hit.
Closed 50% of my position.
Will scale out of my remaining position in between current price and T2 depending on price action over next 24 hours.
Both targets hit. 22% profit achieved.