ZW - Long (Key Zone Test)

3 thg 10, 2024

We identify a potential long entry opportunity after a key support test. The entry level is set at a support zone that has been tested multiple times, proving to be a key reaction point. The stop loss is placed just below the support to limit risk in case of a bearish breakdown, while the take profit is located at the next resistance level, where we expect the price to reach after a bounce. The overall trend remains bullish, supported by the EMA100 confirming long-term momentum. We will also look for reversal candlestick patterns or indicators like RSI and ADX for additional entry confirmation. This setup is based on a 30 minute timeframe, using Heikin Ashi candles to better visualize price movement