The chart shows a clear bullish trend on the 15-minute timeframe, where the price has recently seen a strong move upward, breaking previous resistance levels. The market appears to be in a consolidation phase, creating a few key zones for potential trade setups.
There is a strong support zone identified at the lower part of the chart, which was previously a resistance level before being broken. This indicates the market is likely to respect this level on any pullback. If the price revisits this zone, it could potentially offer a buying opportunity, confirming a retest after the breakout. This type of retest is typically seen as a high-probability trade for continuation in the direction of the trend.
Additionally, a breakout above the previous resistance could lead to further price movement to the upside, especially if the market shows signs of accumulation and a clean breakout occurs with high volume. Look for confirmation in the form of strong bullish candles or a shift in momentum to confirm the continuation of the trend.
To manage risk, stop-loss levels should be placed just below the support zone (if you’re going long), while take-profit targets can be identified at previous highs or near the next key resistance zones.