【$EGLD Signal】1H Breakout Accumulation, Targeting 4H Resistance Break

$EGLD The 1H timeframe is consolidating strongly above the EMA20 (4.574), with prices close to the key resistance zone of 4.61-4.612. The 4H timeframe has broken through the downtrend line but faces resistance at EMA50 (4.653), indicating a pre-reversal phase. Open interest remains stable, prices are firm, and bulls are clearly accumulating.

🎯Direction: Long (Breakout Follow-up)

🎯Entry/Order: Enter long on breakout above 4.625 (Reason: Break above 4H EMA50 resistance and recent high, confirming accelerated upward movement)

🛑Stop Loss: 4.545 (Reason: Break below 1H EMA20 and previous 4H candle low of 4.544)

🚀Target 1: 4.750 (Reason: Upper boundary of the previous dense trading zone on the 4H chart)

🚀Target 2: 4.880 (Reason: Fibonacci 0.618 retracement level since the decline on January 31)

🛡️Trade Management:

- Position Size: Light (Reason: 4H trend not fully established, belongs to breakout speculation)

- Execution Strategy: After reaching 4.75, move stop loss up to entry price of 4.625. For remaining position, target the second goal or close when a slowdown signal appears on the 1H chart (e.g., long upper shadow).

Deep Logic: The order book shows a large sell order of 1024.6 at 4.614 just above the sell-1 at 4.612, which is a key resistance. Once absorbed by buying, resistance above becomes sparse, likely triggering a rapid rally. The 1H RSI (57.44) is in a healthy bullish zone with room to rise. The buy/sell ratio on the 4H chart reaches 0.55 during the last bullish candle, indicating dominance of buying. The current strategy is to position for a breakout, allowing the market to confirm the direction.

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