【$EGLD Signal】Long - 4H breakout pullback confirmation, 1H recharging and ready to go

$EGLD The 1H timeframe is oscillating narrowly above a key support level, with price tightly hugging the EMA20 (5.22). This is a typical breakout followed by a pullback confirmation pattern. The 4H candle has closed bullishly for several consecutive periods, breaking through the recent downward trendline, indicating an emerging bullish pattern. Currently, the price is hovering around 5.22, which is an excellent setup point for short-term entry.

🎯Direction: Long (Long)

🎯Entry/Order: 5.215 - 5.225 (Reason: 1H EMA20 dynamic support + 4H breakout candle upper body)

🛑Stop Loss: 5.150 (Reason: Break below the 4H breakout candle low of 5.186 and EMA50 support)

🚀Target 1: 5.350 (Reason: 4H previous high resistance level)

🚀Target 2: 5.500 (Reason: 1.618 Fibonacci extension level, corresponding to previous accumulation zone)

🛡️Trade Management:

- Position Size Suggestion: Standard position (Reason: 4H and 1H resonance, risk-reward ratio >2)

- Execution Strategy: When price reaches 5.35, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price of 5.22. If the price strongly breaks through 5.35, hold the remaining position to target the second profit level.

Deep Logic: The 4H timeframe has formed a clear higher low structure, with the latest candle showing increased volume on the upside. Although the order book depth on the 1H is somewhat weak (depth imbalance -6.66%), the price has not fallen sharply under selling pressure, indicating strong support from major players. Open interest remains stable, with no signs of panic selling. The 1H RSI (54.35) is in a healthy zone with room for upward movement. Overall, this is a healthy pullback after a breakout, with bullish momentum building.

Trade here 👇 $EGLD

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