IFCAMSC - Analysis for potential price movement N wave with E, V, N & NT projection.
The price is above the Kumo, indicating a bullish trend.
The Tenkan-sen is above the Kijun-sen, signaling bullish momentum.
Chikou Span is above the price candles and the Kumo, supporting the bullish bias.
The price has closed above a critical resistance zone (gap closure region), confirming bullish progress.
The price is at 0.685, moving into the gap closure area, which could serve as a magnet for price action.
Breakout above 0.720 (NT level) is critical for further bullish momentum.
Immediate resistance levels: 0.720 (NT), 0.745 (V), 0.775 (N), and 0.840 (E).
Immediate support levels: 0.660 (gap support) and 0.640 (upper Kumo edge).
Enter a long position if the price breaks above 0.720 (NT level) with strong volume.
Alternatively, wait for a pullback near 0.660–0.670 (gap support zone) for a better risk-reward setup.
Place a stop-loss below 0.640 (upper Kumo edge) to manage downside risk.
Volume Confirmation: Ensure the breakout above 0.720 (NT) is supported by significant volume.
Risk Management: Adjust position size according to the stop-loss distance and ensure the reward-to-risk ratio is favorable.
52-Week High: Monitor price action if it approaches the 52-week high, as this could act as psychological resistance.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
