$MERL reactive setup (Long)
Confidence class: 🏠 Home Run
Open interest is up +1.56% across 4h, supporting the thesis. Conviction volume at 4.16x average confirms directional intent. A sharp +25.68% displacement is visible, and the framework remains intact.
Structure: Range-bound structure
High attention pair today — 25.7% move on the session as a gainer.
Entry: 0.036456 - 0.038326
Support/Resistance: 0.03573 | 0.046766
Targets:
🎯 TP1: 0.04285 (+14.60%)
🎯 TP2: 0.046766 (+25.07%)
🎯 TP3: 0.051606 (+38.02%)
❌ Invalidation: Below 0.034313
Open the chart below and execute 📊
#merl #technicalanalysis