Bias remains bearish from premium supply zone after an impulsive bullish leg. Price has tapped into a higher-timeframe resistance and is showing signs of exhaustion with consolidation under the highs.
Entry: 1.35845
Stop Loss: 1.36180 (≈33.6 pips)
Take Profit: 1.35005 (≈84.2 pips)
Risk-Reward: ~1:2.5
Narrative:
Market rallied aggressively into a premium zone, filling imbalance and tapping liquidity above recent highs. Current structure suggests distribution, with lower timeframe weakness starting to appear. Expect a pullback towards equilibrium / discount area.
Invalidation:
Clean break and hold above the supply zone (SL hit) invalidates the bearish thesis.
Execution Tip:
Best entry confirmation would be a lower timeframe bearish CHoCH or rejection candle near entry.
Entry: 1.35845
Stop Loss: 1.36180 (≈33.6 pips)
Take Profit: 1.35005 (≈84.2 pips)
Risk-Reward: ~1:2.5
Narrative:
Market rallied aggressively into a premium zone, filling imbalance and tapping liquidity above recent highs. Current structure suggests distribution, with lower timeframe weakness starting to appear. Expect a pullback towards equilibrium / discount area.
Invalidation:
Clean break and hold above the supply zone (SL hit) invalidates the bearish thesis.
Execution Tip:
Best entry confirmation would be a lower timeframe bearish CHoCH or rejection candle near entry.
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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.