The US2000 (Russell 2000 Index) is showing a clear sign of bullish continuation after forming a Bullish Engulfing Candle on the daily timeframe. This candle acts as a strong entry confirmation signal, indicating that buyers are stepping back into control following a period of consolidation.
Key Technical Points:
Daily Bias: Overall bullish structure, supported by recent higher highs and higher lows.
4H Confirmation: A strong bullish engulfing candle formed right above a key support zone (highlighted in purple), confirming rejection of lower prices and renewed bullish momentum.
Structure Respect: Price successfully retested the previous resistance area (now turned support), showing clean structure respect before the bullish reaction.
Entry Zone: The entry was based on the engulfing confirmation within the retest zone, aligning perfectly with higher-timeframe bullish sentiment.
Target Objective: The projection area sits around the 2,600.00 level, which represents the next key resistance zone and potential profit-taking area for swing traders.
Invalidation: A 4H candle close below the support region around 2,475.00 would invalidate this setup and suggest possible short-term weakness.
Trade Narrative:
This setup exemplifies the power of waiting for multi-timeframe alignment—daily trend bias first, followed by a 4H entry confirmation. The Bullish Engulfing Candle serves as both a momentum and sentiment shift indicator, showing that buyers have absorbed recent selling pressure.
Patience and disciplined execution remain key. As long as price holds above the 2,475 support, bullish momentum is expected to persist toward 2,600 and beyond.
Key Technical Points:
Daily Bias: Overall bullish structure, supported by recent higher highs and higher lows.
4H Confirmation: A strong bullish engulfing candle formed right above a key support zone (highlighted in purple), confirming rejection of lower prices and renewed bullish momentum.
Structure Respect: Price successfully retested the previous resistance area (now turned support), showing clean structure respect before the bullish reaction.
Entry Zone: The entry was based on the engulfing confirmation within the retest zone, aligning perfectly with higher-timeframe bullish sentiment.
Target Objective: The projection area sits around the 2,600.00 level, which represents the next key resistance zone and potential profit-taking area for swing traders.
Invalidation: A 4H candle close below the support region around 2,475.00 would invalidate this setup and suggest possible short-term weakness.
Trade Narrative:
This setup exemplifies the power of waiting for multi-timeframe alignment—daily trend bias first, followed by a 4H entry confirmation. The Bullish Engulfing Candle serves as both a momentum and sentiment shift indicator, showing that buyers have absorbed recent selling pressure.
Patience and disciplined execution remain key. As long as price holds above the 2,475 support, bullish momentum is expected to persist toward 2,600 and beyond.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.