Chart Observations:
Pattern:
Price has been forming lower highs, suggesting a descending trendline resistance.
There's a visible breakout attempt above this trendline now.
Support Zone:
Strong demand zone between 46,800 – 48,000, which was respected multiple times.
Indicators:
RSI is near the overbought zone, but not showing divergence.
Volume has spiked on the breakout – bullish confirmation.
Heikin Ashi candles are strongly green – good momentum.
✅ Bullish Scenario (If breakout holds):
Entry Zone: On retest of the breakout trendline (around 51,500–52,000).
Target Levels:
Short-term: 53,500
Medium-term: 55,000–56,000
Stop Loss: Below 50,500
❌ Bearish Scenario (If breakout fails):
Invalidation Level: If it closes back below the trendline with high volume.
Re-entry zone: Watch the 48,000 support area again.
Short Target (if breakdown from support): 46,000–45,000
Swing Traders: Wait for a pullback toward the trendline and enter on bullish confirmation.
Positional Traders: Enter partially now, add more on pullback confirmation.
Risk Management: Keep positions light until breakout is fully confirmed.
Pattern:
Price has been forming lower highs, suggesting a descending trendline resistance.
There's a visible breakout attempt above this trendline now.
Support Zone:
Strong demand zone between 46,800 – 48,000, which was respected multiple times.
Indicators:
RSI is near the overbought zone, but not showing divergence.
Volume has spiked on the breakout – bullish confirmation.
Heikin Ashi candles are strongly green – good momentum.
✅ Bullish Scenario (If breakout holds):
Entry Zone: On retest of the breakout trendline (around 51,500–52,000).
Target Levels:
Short-term: 53,500
Medium-term: 55,000–56,000
Stop Loss: Below 50,500
❌ Bearish Scenario (If breakout fails):
Invalidation Level: If it closes back below the trendline with high volume.
Re-entry zone: Watch the 48,000 support area again.
Short Target (if breakdown from support): 46,000–45,000
Swing Traders: Wait for a pullback toward the trendline and enter on bullish confirmation.
Positional Traders: Enter partially now, add more on pullback confirmation.
Risk Management: Keep positions light until breakout is fully confirmed.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.