Hi traders/investor,
This is a Swing / Positional trade.
I can see that a possible bullish momentum can occur in upcoming period because of:
1) Price action is taking support at 0.618 levels of Fibonacci which is golden ratio where trend can possibly reverse.
2) Another support is prior resistance (consolidation) got breakout and that same level will now act as a support.
3) It is also taking support at trendline which started from 26 Feb 21 and till now it had taken support 6 times.
So my entry point will be at 2300 levels
Stoploss would be at 2140 level , slightly below trendline and previous resistance giving a Risk to Reward of 1:4.
and Exit point will be at 3003 level giving upto outstanding 30 % gains.
I cant guarantee you when this target will be achieved.
This is just an analysis and please do not take any decision solely on this basis .
Please give a thumps up if liked this as it requires deep research.
This is my first analysis for publish so sorry if any mistakes are there.
This is a Swing / Positional trade.
I can see that a possible bullish momentum can occur in upcoming period because of:
1) Price action is taking support at 0.618 levels of Fibonacci which is golden ratio where trend can possibly reverse.
2) Another support is prior resistance (consolidation) got breakout and that same level will now act as a support.
3) It is also taking support at trendline which started from 26 Feb 21 and till now it had taken support 6 times.
So my entry point will be at 2300 levels
Stoploss would be at 2140 level , slightly below trendline and previous resistance giving a Risk to Reward of 1:4.
and Exit point will be at 3003 level giving upto outstanding 30 % gains.
I cant guarantee you when this target will be achieved.
This is just an analysis and please do not take any decision solely on this basis .
Please give a thumps up if liked this as it requires deep research.
This is my first analysis for publish so sorry if any mistakes are there.