Overall Chart Setup Summary:
Timeframe: 15m (short-term, intraday trading)
Price: $741.71 (current)
24h High/Low: $770.47 / $730.43
Trend: Recently bearish, now showing early signs of short-term reversal.
Volume: Spike in buying volume in last few candles — potential bullish momentum brewing.
🔍 Technical Indicator Analysis:
✅ Moving Averages (MA):
MA(7) [Yellow]: 738.52 — price now above this → short-term bullish.
MA(25) [Pink]: 738.91 — price has crossed above → medium-term momentum shift.
MA(99) [Purple]: 751.62 — still above current price, acts as strong resistance.
📈 Interpretation:
Short-term breakout is happening. Price crossing MA(7) and MA(25) from below signals a potential bullish entry, but MA(99) is a key resistance around $751-$754 range.
📊 Volume:
Noticeable volume surge at the far right, confirming buying interest and possible breakout attempt.
Consistent volume rise often precedes a continuation move.
📉 Price Action:
Support zone: ~$728–730 (tested and held multiple times).
Resistance zone: ~$751–754 (MA99 and price rejection zone).
Forming higher lows and a breakout above consolidation zone.
📌 Suggested Trade Plan:
🟩 Entry Point (Buy):
Ideal Entry: ~$741–743 (current region) — post-breakout confirmation from sideways.
Aggressive Entry: Already in, riding momentum.
🔑 Ensure volume stays elevated and next candle closes bullish to confirm breakout strength.
🟥 Stop Loss:
Tight SL: Below $734 (recent minor low)
Safer SL: Below $730 (strong support zone tested multiple times)
🟦 Take Profit (Exit Points):
TP1: ~$751 (MA99 — strong resistance)
TP2: ~$755–758 (previous local swing level)
TP3 (stretch): ~$770 (24h high, major resistance)
⚠️ Risk Factors:
If price gets rejected at $746–751 zone with a high-volume red candle, consider early exit or short.
This is a 15-minute chart, so moves can be short-lived; keep position size tight.
Quick trade 🤑🤑