$XOM Trade Analysis DarkPools
Key Observations:
Descending Wedge Pattern:
The chart shows a descending wedge, marked by a narrowing price range between the green support line and red resistance line. This is a bullish reversal pattern.
Price is currently testing the upper red resistance trendline, signaling a potential breakout.
Dark Pool Levels:
Key levels include:
111.76 (BA SW).
110.82 and 109.12 acting as potential support or resistance zones based on price action.
These levels suggest significant institutional activity, making them critical for trade planning.
Support and Resistance:
Support levels:
The wedge's lower green trendline near 106.28.
Major dark pool support at 104 (BB SW 104).
Resistance levels:
108.07 (Dark Pool Level).
111.76 and 112.00 (Dark Pool and Fibonacci target).
Higher targets at 115.00, 117.50, and 120.00 (Fibonacci extensions).
Trend Analysis:
The price is currently near the 8 EMA and 21 EMA, suggesting consolidation and potential for a breakout.
A break above 108.07 (dark pool level) could trigger bullish momentum.
Trade Idea:
Entry:
Breakout Entry: Enter above 108.07 if confirmed with strong volume.
Pullback Entry: Enter near 106.28, the lower wedge support, for a better risk-to-reward ratio.
Profit Targets:
112.00: First target aligning with Fibonacci and dark pool levels.
115.00: Second target, key Fibonacci extension.
117.50: Third target based on continued bullish momentum.
120.00: Final target for a strong bullish move.
Stop Loss:
Close below 106.00: Invalidates the wedge pattern breakout.
Close below 104.00: Signals bearish continuation, as the price would break significant support.
Risk Management:
Ensure position size aligns with risk tolerance.
Risk-to-reward ratio should be at least 1:3, considering entry at 108.07, stop loss at 106.00, and initial target at 112.00.
Additional Notes:
Volume Confirmation: Look for above-average volume on breakout above the wedge's resistance line.
Dark Pool Reaction: Monitor price action near dark pool levels (especially 108.07 and 111.76) for reversals or breakouts.
Fibonacci Levels: Higher Fibonacci extensions suggest strong potential upside if the breakout is sustained.
Descending Wedge Pattern:
The chart shows a descending wedge, marked by a narrowing price range between the green support line and red resistance line. This is a bullish reversal pattern.
Price is currently testing the upper red resistance trendline, signaling a potential breakout.
Dark Pool Levels:
Key levels include:
111.76 (BA SW).
110.82 and 109.12 acting as potential support or resistance zones based on price action.
These levels suggest significant institutional activity, making them critical for trade planning.
Support and Resistance:
Support levels:
The wedge's lower green trendline near 106.28.
Major dark pool support at 104 (BB SW 104).
Resistance levels:
108.07 (Dark Pool Level).
111.76 and 112.00 (Dark Pool and Fibonacci target).
Higher targets at 115.00, 117.50, and 120.00 (Fibonacci extensions).
Trend Analysis:
The price is currently near the 8 EMA and 21 EMA, suggesting consolidation and potential for a breakout.
A break above 108.07 (dark pool level) could trigger bullish momentum.
Trade Idea:
Entry:
Breakout Entry: Enter above 108.07 if confirmed with strong volume.
Pullback Entry: Enter near 106.28, the lower wedge support, for a better risk-to-reward ratio.
Profit Targets:
112.00: First target aligning with Fibonacci and dark pool levels.
115.00: Second target, key Fibonacci extension.
117.50: Third target based on continued bullish momentum.
120.00: Final target for a strong bullish move.
Stop Loss:
Close below 106.00: Invalidates the wedge pattern breakout.
Close below 104.00: Signals bearish continuation, as the price would break significant support.
Risk Management:
Ensure position size aligns with risk tolerance.
Risk-to-reward ratio should be at least 1:3, considering entry at 108.07, stop loss at 106.00, and initial target at 112.00.
Additional Notes:
Volume Confirmation: Look for above-average volume on breakout above the wedge's resistance line.
Dark Pool Reaction: Monitor price action near dark pool levels (especially 108.07 and 111.76) for reversals or breakouts.
Fibonacci Levels: Higher Fibonacci extensions suggest strong potential upside if the breakout is sustained.
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.