$SNX - LONG Setup
Entry: 0.438 – 0.435 (On a confirmed bounce or support hold)
Target 1:0.450
Target 2:0.460
Stop Loss:0.429 (Below the recent swing low)
My View:
SNX is showing signs of a potential bullish reversal after a significant surge off the 24h low.The price has established a strong higher low at 0.418 and is now consolidating above a newly formed support level near 0.435. This area aligns with the breakout point from the recent consolidation and is defended by a substantial Bid wall in the order book. The move represents a clear shift in momentum, breaking the immediate downtrend structure. The current pullback is shallow and appears to be finding demand, suggesting it is a retest before continuation. The plan is to enter a long position on a confirmed hold or bounce from this support zone, targeting a move back towards the 24h high and the next resistance level.
Bias: Bullish above 0.435. A break and close below 0.429 would invalidate the reversal structure.
Disclaimer:My plan. Not advice. Trade your own risk.
