Price is near the NT projection, forming a key near-term consolidation zone just above 0.435-0.440.
The price is currently above the Kumo, indicating bullish sentiment remains intact.
The Kumo is thick and rising, which provides a stable support base around 0.415–0.425. Kumo indicates ongoing support below price with potential for further upside if a breakout occurs.
Price is currently testing the Kijun-sen (0.435–0.440 range).
The Tenkan-sen > Kijun-sen, suggesting short-term bullish momentum is still active.
Chikou Span is above the price candles and above the Kumo, confirming that the trend bias is still bullish.
Notes:
1. Analysis for education purpose only.
2. Trade at your own risk.
Volume has shown some spikes on rallies but needs sustained breakout volume to validate momentum.
Key Levels:
R1: 0.45
R2: 0.460
S1: 0.435
S2: 0.42
Tenkan Sen also can act as dynamic support.
Entry: Enter long on a confirmed breakout above NT around 0.435-0.443 with increased volume and bullish price action.
Stop Loss: Place SL below the recent swing low or below the NT level, around 0.420-0.425.
If price fails to stay above NT and reverses, the next test could be back toward recent swing lows near 0.420-0.430. Weak volume on a breakout would increase the chance of a false breakout.
The price is currently above the Kumo, indicating bullish sentiment remains intact.
The Kumo is thick and rising, which provides a stable support base around 0.415–0.425. Kumo indicates ongoing support below price with potential for further upside if a breakout occurs.
Price is currently testing the Kijun-sen (0.435–0.440 range).
The Tenkan-sen > Kijun-sen, suggesting short-term bullish momentum is still active.
Chikou Span is above the price candles and above the Kumo, confirming that the trend bias is still bullish.
Notes:
1. Analysis for education purpose only.
2. Trade at your own risk.
Volume has shown some spikes on rallies but needs sustained breakout volume to validate momentum.
Key Levels:
R1: 0.45
R2: 0.460
S1: 0.435
S2: 0.42
Tenkan Sen also can act as dynamic support.
Entry: Enter long on a confirmed breakout above NT around 0.435-0.443 with increased volume and bullish price action.
Stop Loss: Place SL below the recent swing low or below the NT level, around 0.420-0.425.
If price fails to stay above NT and reverses, the next test could be back toward recent swing lows near 0.420-0.430. Weak volume on a breakout would increase the chance of a false breakout.
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.