Would you buy, sell, or simply pass? Think about it and let's find out. First thing is usual, after grabbing that cup of coffee, is to look for key structures. We can notice a major uptrend here, followed by a pullback that initiated this consolidation phase. Later sellers gained some momentum before the continuation of the uptrend. We can notice this descending channel that the price has respected on multiple occasions. The price has then broken above it, indicating an upward trend continuation
. Let's switch to a one-hour timeframe for more confirmation. We notice the price dropping and touching the moving average, providing a buying opportunity at a discounted price. Plus, a significant order block is identified nearby, indicating a potential reversal or continuation zone. Since we're going long, let's use both the 200 moving average and the order block to support our stop loss. Well, one day later, we have made $279. Like and subscribe for more challenges. And don't forget to follow
us on TikTok and Instagram.
Comments