CoForge Long SetUp .. with Volume Profile study as the base tool
On the 120 minute time frame
Have seen a good decline in price from 4500 to 3940 levels and then some recovery to 4140 levels. The reversal seems to have been validated
with the rise of 200 points from the bottom. Further confirmation shall come as it clears the first supply level around 4155 levels post which
a retracement to our entry point around 4037/4040 levels should give us a good RR trade of nearly 1:4 > Target 1 is placed around a high volume node
@ 4405 and the final target around the previous high close to 4500
For aggressive traders the stop loss can be extended by another 20 points or be taken on a candle close basis.
Have seen a good decline in price from 4500 to 3940 levels and then some recovery to 4140 levels. The reversal seems to have been validated
with the rise of 200 points from the bottom. Further confirmation shall come as it clears the first supply level around 4155 levels post which
a retracement to our entry point around 4037/4040 levels should give us a good RR trade of nearly 1:4 > Target 1 is placed around a high volume node
@ 4405 and the final target around the previous high close to 4500
For aggressive traders the stop loss can be extended by another 20 points or be taken on a candle close basis.