XTIUSD Extends Bullish Phase, but Watch for Retracement Levels Before Continuing to Buy!

• Bearish scenario: Shorts below 80.00 with TP1: 79.60, TP2: 79.30, and 78.83 with S.L. above 80.62 or at least 1% of account capital*.

• Anticipated bullish scenario: Intraday longs above 80.70 with TP: 81.50, TP2: 81.85, and TP3: 83.00, with S.L. below 80.00 or at least 1% of account capital*. Apply trailing stop.

• Bullish scenario after retracement: (After breaking bellow 80.00) Intraday longs above 78.40 with TP: 81.00, TP2: 81.50, and TP3: 82.00, with S.L. below 77.30 or at least 1% of account capital*. Apply trailing stop.

Scenario from H4 chart:

The uptrend since January broke the last relevant macro resistance (daily chart) of the October to December downtrend at 79.60, hence a retracement of at least 1/3 to 50% of the recent bullish expansion is required before a new rally confirms a macro trend change to bullish.

Under the current scenario, a retracement towards buying zones between 80.00 and the broken level at 79.60 is expected, with a possible downward extension towards 78.83, after which renew purchases aiming for the bullish average range 81.87 intraday and subsequently November resistance at 83.34, confirming the trend change.

A more extended correction towards the weekly open at 77.37 will again place the price in a buying zone to initiate the trend change rally. However, this zone acts as support, so the price must stay above it to consider the possibility of a new rise.

A decisive breakout (with a candle body) of the support at the weekly open of 77.37 will indicate renewed bearishness in the upcoming week, targeting 76.49 and 75.69.

*Uncovered POC: POC = Point of Control: It is the level or zone where the highest volume concentration occurred. If there was a bearish movement from it previously, it is considered a selling zone and forms a resistance zone. Conversely, if there was a bullish impulse previously, it is considered a buying zone, usually located at lows, forming support zones.

**Consider this risk management suggestion

**It is essential that risk management is based on capital and traded volume. Therefore, a maximum risk of 1% of capital is recommended. It is suggested to use risk management indicators such as Easy Order.

Disclaimer

This document does not constitute a recommendation to buy or sell financial products and should not be considered a solicitation or offer to engage in transactions. This document is the author's economic research and is not intended to provide investment advice or solicit securities or other investment transactions in FBS. Although all investments involve some risk, the risk of loss in trading forex and other leveraged assets can be substantial. Therefore, if you are considering trading in this market, you should be aware of the risks associated with this product to make informed decisions before investing. The material presented here should not be interpreted as advice or trading strategy. All prices mentioned in this report are for informational purposes only.