Here's a clear breakdown of this trading signal for $GIGGLE
Trade Signal Summary:
· Asset: $GIGGLE/USDT Perpetual Futures
· Direction: LONG (Bullish)
· Current Price: ~76.84 USDT (+8.82%)
· Entry Zone: 76.5 – 78.0 USDT
· Stop Loss: Close below 74.5 (indicating a break of structure)
· Take Profit Targets:
· TP1: 82.0 (+~6-7% from entry)
· TP2: 88.0 (+~13-15% from entry)
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Trader's Rationale (Technical Perspective):
1. Successful Pullback Hold: Price recently dipped but found strong buying support ("demand zone").
2. Momentum Resumption: Buyers are returning, suggesting the uptrend is resuming.
3. Structure Intact: The overall bullish trend remains valid as long as price holds above the critical support level (around 74.5).
4. Continuation Pattern: The analyst interprets this as a pause before another leg higher ("continuation rather than distribution").