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$TAO 1H: Rejection at Resistance — Pullback Before the Next Breakout?
⏰ Timeframe: 1H (Analysis based only on the uploaded chart)
📊 Market Bias: Neutral → Bullish
$TAO continues to trade above the long-term MA(99) after defending the 191–192 support region. The rejection near 197.8 signals overhead supply, but the higher-low structure remains intact unless key support fails.
🎯 Trade Setup
Trade: LONG (Buy the Retest)
Entry Zone: 193.80 – 194.30
Stop Loss: 191.80
TP1: 196.00
TP2: 197.80
TP3: 200.50
Risk:Reward: ≈ 1:2.6
Trade Invalidation: A confirmed 1H close below 191.80 invalidates the bullish setup.
📈 Technical Analysis
✅ Price Action: Higher highs and higher lows remain intact despite the recent rejection.
✅ Market Structure: Bullish intraday structure with a healthy pullback.
✅ Support: 193.40–192.20
✅ Resistance: 196.00, 197.80, then 200.50.
✅ Moving Averages: Price remains above MA(99), while MA(7) and MA(25) are converging near current price, indicating a potential continuation zone.
✅ Volume: Strong buying volume fueled the recent rally, but the latest rejection came with declining momentum. Watch for renewed volume before entering.
✅ SMC: Liquidity rests above 197.8. A successful breakout could trigger buy-side liquidity and continuation higher.
✅ Order Block: Bullish demand is located around 193–194, aligning with the moving averages.
✅ FVG: A minor fair value gap exists below the current price and could be revisited before the next expansion.
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