CLITE - LOOKING FOR BULLISH SENTIMENTN wave with E, V & N projection.
The chart shows a recent upward correction after a downtrend, with identifiable wave labels (A, B, C).
Price is above Kumo with N level as immediate support (0.225).
Tenkan-sen above Kijun-sen, showing a bullish sentiment.
Price needs to stay above N level (0.225), confirming the bullish continuation.
Entry: Consider a long position if the price breaks above 0.225 with confirming volume.
Stop Loss: Place SL slightly below recent lows, around 0.210, to limit downside risk.
This setup suggests a potential bullish move if the price successfully breaks above the 0.225 level, targeting the V and E projections. Confirmation through volume and price action is crucial for a successful trade.
Monitor price action and volume during breakout. If the price fails to break above 0.225 or reverses, consider avoiding entry or reversing position.
Note:
1. Analysis for education purpses only.
2. Trade at your own risk.
