🚀 FORM Long Setup in Focus 📈
Trading Plan:
Bias: Long
Entry: 0.3000 - 0.3400
SL: 0.2750
TP1–TP3: 0.4000 / 0.6500 / 0.9000
Technical Analysis:
The analysis of the daily chart indicates a potential trend reversal. After a prolonged downtrend, the price has entered a consolidation phase, suggesting a bottoming formation. Recently, a significant surge in trading volume has accompanied a price breakout above the middle Bollinger Band and the EMA ribbon, which previously acted as dynamic resistance. This momentum is supported by a bullish crossover on the MACD indicator, with the histogram turning positive. The current structure points towards a continuation of this upward move, with a retest of the breakout zone around 0.3000-0.3400 presenting a viable entry opportunity.
Invalidation:
Only a break below 0.2750 would invalidate the current bullish momentum.
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