USTEC (US Tech 100 Index) | H1 | Buy Idea
Direction: BUY (Long)
Setup: Price made a lower low near 27,530, while RSI (14) made a higher low in the oversold area. That is a bullish RSI divergence. Price then rallied sharply and has now pulled back into the breakout/retest zone around 28,171, which is the entry area.
LevelPrice
Entry
28,171 (zone 28,150-28,200)
Stop Loss
27,520 (below the divergence low)
Take Profit
29,310 (prior supply and breakdown level)
Entry
28,171 (zone 28,150-28,200)
Stop Loss
27,520 (below the divergence low)
Take Profit
29,310 (prior supply and breakdown level)
Risk: about 651 points
Reward: about 1,139 points
R:R: about 1:1.75
Rationale:
- Bullish RSI divergence at the 27,530 low, with RSI reversing from oversold.
- Strong bullish impulse off the low, followed by a retest of the broken zone.
- Entry sits at the former range support/resistance flip near 28,171.
- The target is the 29,310 level where the last major breakdown began.
Management notes:
- Move SL to breakeven once price clears 28,500.
- Consider partial profit near 28,800.
- Invalidation: an H1 close below 27,520.
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USTEC BUY | Entry 28171 | SL 27520 | TP 29310 | R:R 1:1.75 | Bullish RSI divergence + retest of flip zone. BE at 28500.