🌞 Update market [07/12] [WLD]. 💵
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📊 Technical perspective (H4 frame):
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Price action: WLD is moving sideways, forming a bottom. The price continuously reacts positively at the strong support zone of 0.5640 (the white line), forming a potential double/triple bottom pattern.
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Indicators: The thick red Ichimoku cloud above acts as strong resistance, so expectations are only for a retracement within a narrow range. The bright spot is that Stoch RSI (41.44) is trending upwards, supporting a bounce from the bottom.
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👉 Trading mindset: "Buy at support, sell at resistance". This is a Long setup (Buy) with a very nice R:R ratio because the stop-loss point is very short (just below the strong support).
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RECOMMENDED POSITION
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📈 Entry: 0.5650 - 0.5720 (Buy close to the white support line).
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🎯 TP 1: 0.6030 (Bottom edge of the red Ichimoku cloud).
🎯 TP 2: 0.6350 (Previous top of the sideways box).
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🛑 SL: 0.5540 (Break below strong support).
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This article only suggests market information, not an investment call! #DYOR #NFA $WLD
{future}(WLDUSDT)
