1. Volume and Volatility Surge #ME
There is a noticeable surge in large volume and long green candles over the last 2 days. This indicates:
The entry of very strong buying pressure
The potential for major news, positive market sentiment, or whale action.
2. Bullish Reversal Pattern
A very strong bullish engulfing pattern has occurred after a long downtrend.
A large green candle has successfully engulfed 3–5 previous red candles, indicating the potential reversal from bearish to bullish.
3. Strong Breakout
The price has successfully breached the previous resistance zone around 1.00–1.02.
Currently retesting the breakout area. If the price holds above 1.00–1.03, there is potential for further upward movement.
4. Beware of Long Upper Shadow
Today's candle forms a long upper wick (the price briefly touched 1.164 before dropping).
This indicates selling pressure above, or profit-taking by traders.
📌 Conclusion and Recommendations
Factor Assessment
Trend Starting to reverse upwards (reversal)
Momentum Strong, high volume
Signal Bullish but cautious of pullback
Strategy
Conservative entry: wait for confirmation of the next daily candle to remain above 1.03
Aggressive entry: buy on retest 1.00–1.02 with a tight stop loss below 0.98
Short-term target: 1.10–1.16
Cut loss if it falls below 0.98
#MyCOSTrade
#
There is a noticeable surge in large volume and long green candles over the last 2 days. This indicates:
The entry of very strong buying pressure
The potential for major news, positive market sentiment, or whale action.
2. Bullish Reversal Pattern
A very strong bullish engulfing pattern has occurred after a long downtrend.
A large green candle has successfully engulfed 3–5 previous red candles, indicating the potential reversal from bearish to bullish.
3. Strong Breakout
The price has successfully breached the previous resistance zone around 1.00–1.02.
Currently retesting the breakout area. If the price holds above 1.00–1.03, there is potential for further upward movement.
4. Beware of Long Upper Shadow
Today's candle forms a long upper wick (the price briefly touched 1.164 before dropping).
This indicates selling pressure above, or profit-taking by traders.
📌 Conclusion and Recommendations
Factor Assessment
Trend Starting to reverse upwards (reversal)
Momentum Strong, high volume
Signal Bullish but cautious of pullback
Strategy
Conservative entry: wait for confirmation of the next daily candle to remain above 1.03
Aggressive entry: buy on retest 1.00–1.02 with a tight stop loss below 0.98
Short-term target: 1.10–1.16
Cut loss if it falls below 0.98
#MyCOSTrade
#