$THE
THE has delivered a strong breakout on the 4H timeframe after a long period of consolidation. The recent rejection from the local high shows some profit-taking, but the overall market structure remains bullish as long as key support levels continue to hold.
TRADE IDEA: LONG
ENTRY: 0.0600 – 0.0625
TARGETS:
• 0.0720
• 0.0800
• 0.0880
STOP LOSS: Below 0.0560
MY VIEW:
The momentum is still in favor of buyers, but I would avoid chasing the breakout. A pullback toward the support zone could provide a better risk-to-reward entry. If buyers defend this area, another push toward the recent high is likely.
#the #trade #signal
THE has delivered a strong breakout on the 4H timeframe after a long period of consolidation. The recent rejection from the local high shows some profit-taking, but the overall market structure remains bullish as long as key support levels continue to hold.
TRADE IDEA: LONG
ENTRY: 0.0600 – 0.0625
TARGETS:
• 0.0720
• 0.0800
• 0.0880
STOP LOSS: Below 0.0560
MY VIEW:
The momentum is still in favor of buyers, but I would avoid chasing the breakout. A pullback toward the support zone could provide a better risk-to-reward entry. If buyers defend this area, another push toward the recent high is likely.
#the #trade #signal