1. Descending Trendline
Description: Price has been respecting a descending trendline, creating lower highs. A breakout above this trendline could signal a bullish trend reversal.
2. Strong Supply / Resistance Zone
Description: This is a major resistance area where sellers have repeatedly entered the market. A confirmed breakout and close above this zone may trigger strong buying momentum.
3. Demand / Support Zone
Description: A high-probability demand zone where institutional buying interest has appeared before. This area could provide support for another bullish move.
4. Higher Low Trendline
Description: The ascending trendline indicates buyers are defending higher lows, maintaining the overall bullish market structure.
5. CHoCH (Change of Character)
Description: CHoCH signals a shift in market structure, suggesting that momentum is changing from bearish to bullish.
6. BOS (Break of Structure)
Description: A Break of Structure confirms that buyers have taken control by breaking a previous swing high, strengthening the bullish bias.
7. EQH (Equal Highs)
Description: Equal Highs represent a liquidity pool where buy-stop orders are likely resting. Price often targets this area before making its next move.
8. Entry Zone
Description: Wait for bullish confirmation within the demand zone before entering. Avoid entering before price shows signs of rejection.
9. Stop Loss (Weak Low)
Description: Place the stop loss below the weak low to protect against a false breakout and maintain proper risk management.
10. TP1 – 4123
Description: The first take-profit target is the nearest resistance level where partial profits can be secured.
11. TP2 – 4222
Description: The second take-profit target aligns with the major resistance/supply zone, offering a higher reward if bullish momentum continues.
12. Overall Trade Idea
Description: As long as price holds above the demand zone and ascending trendline, the bullish outlook remains valid. A breakout above the descending trendline and resistance could open the path toward TP1 (4123) and TP2 (4222).
Disclaimer: This analysis is for educational purposes only and is not financial advice. Always wait for confirmation and manage your risk.