We formed a double top right around the 2.0–2.1 Fib extension target, followed by a break of the bullish trend on the 1H timeframe. Since then, the bears have started taking control.
RESISTANCE ZONE:
SUPPORT ZONE:
As always, I’d rather wait for price to come into the levels than chase the move in the middle.
🔍 Indicators used
➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.
_________________________________
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RESISTANCE ZONE:
- The current key resistance is the $1500 psychological level, where price has already rejected twice.
- The anchored VWAP resistance is also sitting right around $1500, giving us another layer of confluence.
- The 0.382 Fib at $1486 was the ideal short entry and lined up nicely with the resistance zone.
SUPPORT ZONE:
- For the next long opportunity, I’m watching the $1300–$1240 support zone, where we have plenty of confluence coming together.
- The $1270 level would be the ideal entry for me. If we get the reaction from this zone, the first target would be back towards the $1350 swing low.
As always, I’d rather wait for price to come into the levels than chase the move in the middle.
🔍 Indicators used
- Multi Timeframe 8x MA Support Resistance Zones [SiDec] → to identify support and resistance zones
➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.
_________________________________
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Catatan
$1400 acted as resistance zone:Catatan
1.618 Fib extension target reached - in confluence with 34 daily and 4H 200 EMA/SMA:Catatan
Next long opportunity → $1240-$1230:Catatan
$1200:Catatan
0.886 fib + vwap confluence:Catatan
High-probability short trade setup → $1438-$1474:
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🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.