$MERL is showing a clean momentum continuation move, pushing directly into a key resistance zone with strong bullish candles. Price action remains controlled for now, but after this sharp expansion, reaction risk at resistance is increasing.
Trade Setup (Long – Breakout Continuation)
Entry: 0.0395 – 0.0412
Stop Loss: 0.0375
Take Profit Levels:
TP1: 0.0435 (initial resistance / scalp zone)
TP2: 0.0460 (mid-range continuation target)
TP3: 0.0500 (full breakout extension target)
Market Structure:
Strong impulsive push into resistance with momentum confirmation
Holding above 0.039 keeps the breakout structure valid
Any sustained rejection from resistance can trigger a fast pullback toward breakout zone
Key Condition:
If price holds above ~0.039 after retests, continuation momentum remains active for higher expansion. Loss of that level would shift focus back to consolidation or deeper retracement.
Buy and Trade$MERL
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