| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 100.752 |
| Take Profit | 102.050 |
| Stop Loss | 100.232 |
| Key Levels | 100.248, 101.185, 98.801, 102.180 |
Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span has crossed the price chart from below, current cloud is ascending. The instrument has broken through Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (100.248). One of the previous maximums of Chikou Span line is expected to be a resistance level (101.185).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud has reversed from descending to ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is the upper border of the cloud (98.801). One of the previous maximums of Chikou Span line is expected to be a resistance level (102.180).
It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (102.050) line and Stop Loss at the level of Kijun-sen line (100.232).
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