The market is currently trading inside a parallel channel structure, and price action is showing weakening demand over time. Buyers are gradually losing momentum, while supply is entering the market more aggressively and with stronger reactions.
At the moment, the overall structure remains range-bound inside the channel.
The market recently broke the previous high, and on the 1H timeframe a negative candle has already appeared. However, that candle is still considered an inside candle, and inside candlestick patterns often fail without a proper breakout confirmation.
For now, the real move will likely begin only after price breaks outside of this range structure.
My main focus is on an FMFR setup — First Move Fake Than Reversal. Ideally, I want to see the market first create a fake move toward the upside, trap breakout buyers, and then form a strong negative candle inside the marked reversal zone. If that confirmation appears, the market could start moving toward the downside.
Another important point is the current bearish candle inside the zone. If sellers want to maintain control, then the market needs to close below the body of that bearish candle on the 1H timeframe. Only then would the downside continuation become more reliable.
For now, price is still reacting inside the structure, and the next confirmed breakout will likely decide the true direction of the market.
At the moment, the overall structure remains range-bound inside the channel.
The market recently broke the previous high, and on the 1H timeframe a negative candle has already appeared. However, that candle is still considered an inside candle, and inside candlestick patterns often fail without a proper breakout confirmation.
For now, the real move will likely begin only after price breaks outside of this range structure.
My main focus is on an FMFR setup — First Move Fake Than Reversal. Ideally, I want to see the market first create a fake move toward the upside, trap breakout buyers, and then form a strong negative candle inside the marked reversal zone. If that confirmation appears, the market could start moving toward the downside.
Another important point is the current bearish candle inside the zone. If sellers want to maintain control, then the market needs to close below the body of that bearish candle on the 1H timeframe. Only then would the downside continuation become more reliable.
For now, price is still reacting inside the structure, and the next confirmed breakout will likely decide the true direction of the market.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.