๐ฉ WOW ๐ฎ FUTURES TRADERS BEAUTIFUL SETUP IS HERE๐ฅ๐ฅ๐ฅ ๐ RLC Technical Chart Setup โ 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.
โข Key Zones:
โข ๐ฉ Demand Zone: $1.18 โ $1.22
โข ๐ต Entry Zone: $1.227 โ $1.301 (price consolidation area)
โข ๐ฃ Breakout Level: $1.5 โ breaking above this with volume confirms a bullish reversal
โข ๐ TP1 (Take Profit 1): $1.5 โ first resistance after breakout
โข ๐ด TP2 (Take Profit 2): $2.0 โ secondary resistance and bullish extension target
โข โซ Stop-Loss (SL): $1.2 โ undercuts demand zone to invalidate setup
Risk-Reward Overview:
โข From an entry around $1.302, the RR ratio toward TP2 with SL at $1.2 is favorable (approximately 1:3.8).
โข A clean break and hold above $1.5 would likely attract momentum buyers.
โข Technical Note:
โข Watch for volume confirmation above $1.5 to validate this setup.
โข If price closes below $1.2, consider the bullish case invalidated.
Not financial advice do your own research ๐ฌ
$RLC