CFG has confirmed a breakout from a well-defined Falling Wedge, a bullish reversal pattern that often marks the end of a corrective phase and the beginning of a new upward trend. The breakout is now visible above the wedge resistance, giving bulls the upper hand. As long as price remains above the breakout level, the probability of continuation toward higher resistance levels remains favorable. Trade Setup • Entry: 0.1830 – 0.1860 • Stop Loss: 0.1663 • Take Profit: 0.3020 $CFG
Update: As I mentioned earlier, the price broke down exactly from the highlighted zone. Now, keep a close eye on the highlighted green support area—losing it would signal a continuation of the downtrend. $BANK
*Trade Plan* - *Entry Zone*: `$0.04712 - $0.04977` Scale in around the *POC* of the Volume Profile.
- *Target (TP)*: `$0.08599` Full pattern height projection. Interim resistance at `$0.0530 - $0.0550`.
- *Stop Loss (SL)*: `$0.04346` Strict invalidation of the setup.
*Invalidation Criteria* The bullish scenario completely fails if we get a daily candle close below `$0.04346`. That would break the ascending trendline and cause us to lose the Volume Profile support shelf. Also, be cautious of any weak rejection on low volume at the red resistance zone (`$0.0530 - $0.0550`).
The *Risk to Reward (R:R)* on this trade is excellent and very clean. Keep strict risk management and position sizing until we get confirmation of a breakout above the descending trendline. $COLLECT