$POWER Bullish Reversal Setup! ā”ļø
This setup identifies a potential trend-following long position.
It indicates a bullish reversal on the $POWER chart.
Trade Plan: Long š¢
Entry Zone: 0.216 - 0.225
Take Profit Levels:
šÆ TP1: 0.233
šÆ TP2: 0.239
šÆ TP3: 0.247
Stop Loss:
SL: 0.210
Technical Analysis Breakdown:
$POWER has reclaimed key EMAs on the H4 chart, confirming an uptrend.
The RSI is positioned above 50, which suggests sustained bullish momentum.
Entry Rationale:
The 0.216-0.225 zone is considered an ideal Entry as the price is retesting EMA support.
Take Profit Rationale:
The TP levels at 0.233-0.247 aim for potential previous resistance highs.
Stop Loss Rationale:
The SL at 0.210 is set to protect the position below the recent support low.
