1. Overall Trend
Price was in a strong uptrend first.
Then, it formed a small downward channel (green area) which is usually a consolidation phase in an uptrend.
2. Breakout Zone
Price is near the end of the channel and a potential bullish breakout is expected.
The yellow box (Entry Zone) shows the buying area.
3. Entry Point
Entry point is around 0.79798.
This is where a buy trade is planned.
4. Stop Loss (Risk Control)
Stop loss is between 0.79764 – 0.79619.
If price breaks below this zone, the trade should be closed to limit losses.
5. Target Point (Take Profit)
Target is around 0.80334.
This is based on the height of the previous move (measured move strategy).
6. Risk-to-Reward Ratio
The green box shows Risk/Reward ratio.
Reward is higher than risk, which makes this a good setup if breakout happens.
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📊 Summary
Trade Type: Buy Setup
Entry: ~0.79798
Stop Loss: Below 0.79619
Take Profit: ~0.80334
Idea: Expect price to reverse from entry zone and move up toward the target.
Price was in a strong uptrend first.
Then, it formed a small downward channel (green area) which is usually a consolidation phase in an uptrend.
2. Breakout Zone
Price is near the end of the channel and a potential bullish breakout is expected.
The yellow box (Entry Zone) shows the buying area.
3. Entry Point
Entry point is around 0.79798.
This is where a buy trade is planned.
4. Stop Loss (Risk Control)
Stop loss is between 0.79764 – 0.79619.
If price breaks below this zone, the trade should be closed to limit losses.
5. Target Point (Take Profit)
Target is around 0.80334.
This is based on the height of the previous move (measured move strategy).
6. Risk-to-Reward Ratio
The green box shows Risk/Reward ratio.
Reward is higher than risk, which makes this a good setup if breakout happens.
---
📊 Summary
Trade Type: Buy Setup
Entry: ~0.79798
Stop Loss: Below 0.79619
Take Profit: ~0.80334
Idea: Expect price to reverse from entry zone and move up toward the target.
Trade active
Note
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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.
join my telegram channel t.me/goldmitalteam
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t.me/goldmitalteam
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.