From the Daily-timeframe perspective, it might be observed that the price is bouncing off the ascending trend-line that has been portrayed on the graph; and looking at the historical price action, it can be noticed that upon reaching this specific up-trending zone, the price has been able to bounce off and impulse towards the upside. Hence, we remain positive that the local zone that we have marked may serve as the basis of the potentially upcoming bullish run.
As for the target, the up-trending diagonal | the upper barrier of the rising channel may be considered as the long-term TP zone. The liquidation zone (SL), on the other hand, might be set below the local key zone of support that we are eyeing as our entry zone.
Wishing everyone a productive trading week!
As for the target, the up-trending diagonal | the upper barrier of the rising channel may be considered as the long-term TP zone. The liquidation zone (SL), on the other hand, might be set below the local key zone of support that we are eyeing as our entry zone.
Wishing everyone a productive trading week!