Chart Pattern
The price is moving within a descending channel (highlighted in blue and green), which typically signals continuation of the current downtrend.
A breakout to the downside of the channel seems to be forming (small breakout candle drawn outside the channel).
🔽 Trade Setup: Short Position
This is a short trade setup, meaning the trader expects the price to go down.
🔸 Entry Point
Entry Zone: Between 111,667.72 and 111,717.96 USD
This is above the current price, suggesting a pullback entry (waiting for a slight retracement before shorting).
🔹 Stop Loss
Stop Loss Zone: Between 113,074.59 and 113,077.51 USD
Placed above the channel and the entry point to protect against invalidation.
🟢 Target Point (Take Profit)
Target Zone: Between 105,989.97 and 106,015.09 USD
The expected price move is based on a measured move or projected breakdown from the channel.
🧮 Risk to Reward Ratio
The risk/reward box (red for risk, green for reward) shows a positive risk-reward ratio, likely around 1:2 or better, which is favorable in trading.
✅ Analysis Summary
Trend: Bearish (descending channel, lower highs and lower lows).
Setup: Short position on pullback into resistance zone.
Target: 106,000 area.
Stop: 113,000 area.
Current Price: Around 108,905.09 USD.
📌 Final Thoughts
The setup assumes the breakdown from the channel is valid.
A retest of the breakdown zone (entry point) is anticipated before continuation downward.
Be mindful of potential false breakouts or sudden bullish reversals.
The price is moving within a descending channel (highlighted in blue and green), which typically signals continuation of the current downtrend.
A breakout to the downside of the channel seems to be forming (small breakout candle drawn outside the channel).
🔽 Trade Setup: Short Position
This is a short trade setup, meaning the trader expects the price to go down.
🔸 Entry Point
Entry Zone: Between 111,667.72 and 111,717.96 USD
This is above the current price, suggesting a pullback entry (waiting for a slight retracement before shorting).
🔹 Stop Loss
Stop Loss Zone: Between 113,074.59 and 113,077.51 USD
Placed above the channel and the entry point to protect against invalidation.
🟢 Target Point (Take Profit)
Target Zone: Between 105,989.97 and 106,015.09 USD
The expected price move is based on a measured move or projected breakdown from the channel.
🧮 Risk to Reward Ratio
The risk/reward box (red for risk, green for reward) shows a positive risk-reward ratio, likely around 1:2 or better, which is favorable in trading.
✅ Analysis Summary
Trend: Bearish (descending channel, lower highs and lower lows).
Setup: Short position on pullback into resistance zone.
Target: 106,000 area.
Stop: 113,000 area.
Current Price: Around 108,905.09 USD.
📌 Final Thoughts
The setup assumes the breakdown from the channel is valid.
A retest of the breakdown zone (entry point) is anticipated before continuation downward.
Be mindful of potential false breakouts or sudden bullish reversals.
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.