Breakout Confirmation:
MKR has broken out of a daily bull pennant, signaling bullish momentum. The breakout candle reclaimed key HTF S/R (~$1987–$2000 zone) and flipped it to support.
Entry and Risk Zone:
Ideal long entries are on retests of this S/R flip ($1987–$2000). Invalidation below $1826 (recent low and support).
Upside Target:
First target at $2759, full target at $3000 zone, just below the marked supply.
Trade Management:
Trailing stops recommended as price approaches $2750–$2800 to lock in gains.
MKR just broke out of a clean daily bull pennant pattern, confirming a structural shift with a retest and reclaim of high timeframe S/R. This level, previously strong resistance, now acts as support. Combined with the breakout and the momentum from recent market dips, the setup favors continuation to the upside with $2750–$3000 as the likely destination. Failure to hold $1826 invalidates the bullish scenario.
MKR has broken out of a daily bull pennant, signaling bullish momentum. The breakout candle reclaimed key HTF S/R (~$1987–$2000 zone) and flipped it to support.
Entry and Risk Zone:
Ideal long entries are on retests of this S/R flip ($1987–$2000). Invalidation below $1826 (recent low and support).
Upside Target:
First target at $2759, full target at $3000 zone, just below the marked supply.
Trade Management:
Trailing stops recommended as price approaches $2750–$2800 to lock in gains.
MKR just broke out of a clean daily bull pennant pattern, confirming a structural shift with a retest and reclaim of high timeframe S/R. This level, previously strong resistance, now acts as support. Combined with the breakout and the momentum from recent market dips, the setup favors continuation to the upside with $2750–$3000 as the likely destination. Failure to hold $1826 invalidates the bullish scenario.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.