馃攳 Trade Analysis:
This setup leverages a Bullish Crab Pattern identified on the 4H timeframe, showing confluence with a strong support zone. Additionally, on the daily timeframe, WLD is holding above the 0.786 Fibonacci retracement level, reinforcing the bullish bias.
馃搳 Trade Parameters:
- Entry: CMP at 2.192
- Stop-Loss: 1.94 (below key support)
- Target Price (TP): 3.16
- Risk-to-Reward Ratio (RR): 4:1
鈿狅笍 Important Note:
As we approach the holiday season, market volume might remain low, increasing the likelihood of choppy price action or unexpected volatility. Consider reducing position sizes and managing risk effectively.
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Disclaimer:
This post is for educational and informational purposes only and does not constitute financial advice. Trading involves significant risks and may not be suitable for all investors. Past performance is not indicative of future results. Always conduct your own research and consult with a professional financial advisor before making any trading decisions. Trade responsibly, especially during periods of low market activity like the holiday season.