$CVX
Market Context Strong bullish impulse (+50%) followed by rejection near the high → profit taking likely. Structure suggests a short-term breakout, not a confirmed uptrend.
Scenario A — Short (Preferred / Mean Reversion)
Valid if price fails to hold above 2.20
Entry: 2.15 – 2.22
Stop Loss: 2.45
TP1: 2.00
TP2: 1.85
TP3: 1.75
Rationale: Vertical pump + rejection → higher pullback probability. Better risk–reward.
Scenario B — Long (Pullback Only, No FOMO)
Valid on healthy pullback with bullish reaction
Entry: 1.90 – 2.00
Stop Loss: 1.75
TP1: 2.20
TP2: 2.35
TP3: 2.45
Rationale: Buy support after confirmation, not strength.
Scenario C — Long Breakout (High Risk)
Only if daily close above 2.45
Entry: Retest 2.40 – 2.45
Stop Loss: 2.20
TP: 2.80 – 3.00
Key Levels
Resistance: 2.30 – 2.45
Support: 2.00 / 1.75 – 1.80
Trade the level, manage risk.