$AUCTION Breakout Imminent? Bullish Strategy Unfolds๐๐
Timeframe: 1H & 1D
Current Price: $11.23
Chart Breakdown:๐
On the 1H timeframe, $AUCTION has shown a clean CHoCH (Change of Character) with bullish momentum initiating from the demand zone around $11.05. Price is now consolidating above the EQL level with multiple supporting EMAs hugging from below. Stoch RSI is pushing upwards, suggesting more upside potential short-term.
๐On the 1D timeframe, we observe a deep pullback structure following prolonged selling. $AUCTION Price has entered a higher-timeframe demand zone and is now forming a base, with early signs of trend reversal. The last few candles reflect strong buying pressure, forming a bullish structure right below key resistance ($11.68โ$12.22).
Trade Strategy: Bullish Play Only (Breakout Anticipation)๐ค
Entry Zone: $11.15โ$11.20 (confirmed on 1H bullish close above CHoCH)โ
Target 1: $11.68๐ฏ
Target 2: $12.22๐ฏ
Target 3 (Swing): $14.29๐ฏ
Stop Loss: Below $11.00โฃ๏ธ
Pro Tips:๐งโ๐ซ
Watch for 1H candle close above $11.37 with strong volume for breakout confirmation.
Risk management is crucial as breakout may initially retest the EQL zone.
Ideal for swing traders looking to ride a potential multi-day rally.
Community Sentiment: ๐งโ๐ป
Moderate accumulation seen. Buyers defending demand zones actively.
"Donโt anticipate the breakout. Prepare for it. The real edge lies in confirmation, not prediction."
Disclaimer: โ ๏ธ
This is not financial advice. Trade based on your own research and risk tolerance.
