FX.co ★ LINKUSD Potential For Bullish Rise to previous swing high

Description :

Looking at the H4 chart, my overall bias for LINKUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for an immediate buy entry at 7.895, due to price bouncing off the overlap support at 7.503 strongly, indicating that the bullish momentum is strong. Stop loss will be at 7.503, where the previous overlap support and 38.2% Fibonacci line is. Take profit will be at 9.480 where the previous swing high was.

Trading Recommendation

Entry: 7.895

Reason for Entry: Due to price bouncing off the overlap support at 7.503 strongly, indicating that the bullish momentum is strong.

Take Profit: 9.480

Reason for Take Profit: Previous swing high

Stop Loss: 7.503

Reason for Stop Loss:

Previous overlap support and 38.2% Fibonacci line is.