🟩 WOW 😮 FUTURES TRADERS BEAUTIFUL SETUP IS HERE🔥🔥🔥 📈 RLC Technical Chart Setup – 1H Timeframe
1. Price Action Summary:
2. RLC has bounced off a strong demand zone around $1.2, signaling early signs of bullish defense after a notable downtrend.
3. A slight bullish structure is forming, marked by higher lows and minor higher highs on the 1-hour chart.
• Key Zones:
• 🟩 Demand Zone: $1.18 – $1.22
• 🔵 Entry Zone: $1.227 – $1.301 (price consolidation area)
• 🟣 Breakout Level: $1.5 – breaking above this with volume confirms a bullish reversal
• 🟠 TP1 (Take Profit 1): $1.5 – first resistance after breakout
• 🔴 TP2 (Take Profit 2): $2.0 – secondary resistance and bullish extension target
• ⚫ Stop-Loss (SL): $1.2 – undercuts demand zone to invalidate setup
Risk-Reward Overview:
• From an entry around $1.302, the RR ratio toward TP2 with SL at $1.2 is favorable (approximately 1:3.8).
• A clean break and hold above $1.5 would likely attract momentum buyers.
• Technical Note:
• Watch for volume confirmation above $1.5 to validate this setup.
• If price closes below $1.2, consider the bullish case invalidated.
Not financial advice do your own research 🔬
$RLC