The bounce over the support at the 1810 level indicates that the market has a bullish sentiment. Additionally, the fact that the market has broken the previous higher low could indicate that the bulls are gaining strength and that the uptrend may continue.
On the weekly chart, the engulfing candlestick pattern suggests that there may be a new bullish momentum forming, which could lead to further price increases in the future.
Looking at the 4h chart, traders may want to wait for a break above the structure at the 1860 level before entering a long order. This could be a sign that the bulls are gaining even more strength and that the price is likely to continue its upward trend.
If the price breaks above 1860, traders may consider setting a stop loss at a reasonable level below, and target profit levels at the one indicated by the Plancton's strategy rules .
On the weekly chart, the engulfing candlestick pattern suggests that there may be a new bullish momentum forming, which could lead to further price increases in the future.
Looking at the 4h chart, traders may want to wait for a break above the structure at the 1860 level before entering a long order. This could be a sign that the bulls are gaining even more strength and that the price is likely to continue its upward trend.
If the price breaks above 1860, traders may consider setting a stop loss at a reasonable level below, and target profit levels at the one indicated by the Plancton's strategy rules .
