Price has reached a strong higher-timeframe demand zone around 28,250–28,350, where buyers have reacted previously.
Market Structure
The overall trend remains bearish, with price respecting a well-defined descending trendline.
Recent selling pressure has pushed price back into a key support area.
This creates an interesting risk-to-reward opportunity, but confirmation is still required.
Bullish Scenario
A bullish reversal from the current demand zone could trigger:
Initial target: 29,150–29,250
Extended target: 29,800 resistance, where the descending trendline and horizontal resistance converge.
Bearish Scenario
If sellers manage to close decisively below the demand zone, the bullish thesis becomes invalid, and further downside is likely.
Trade Idea
Entry: Near current demand after bullish confirmation (strong rejection or bullish engulfing candle)
Stop Loss: Below the demand zone
Target 1: 29,150
Target 2: 29,800
This setup offers an attractive risk-to-reward ratio while respecting the prevailing market structure.
Key Levels
🟢 Demand: 28,250–28,350
🔴 Resistance: 29,800
📉 Dynamic Resistance: Descending trendline
Disclaimer: This is an educational market analysis, not financial advice. Always wait for confirmation before entering a trade.
Market Structure
The overall trend remains bearish, with price respecting a well-defined descending trendline.
Recent selling pressure has pushed price back into a key support area.
This creates an interesting risk-to-reward opportunity, but confirmation is still required.
Bullish Scenario
A bullish reversal from the current demand zone could trigger:
Initial target: 29,150–29,250
Extended target: 29,800 resistance, where the descending trendline and horizontal resistance converge.
Bearish Scenario
If sellers manage to close decisively below the demand zone, the bullish thesis becomes invalid, and further downside is likely.
Trade Idea
Entry: Near current demand after bullish confirmation (strong rejection or bullish engulfing candle)
Stop Loss: Below the demand zone
Target 1: 29,150
Target 2: 29,800
This setup offers an attractive risk-to-reward ratio while respecting the prevailing market structure.
Key Levels
🟢 Demand: 28,250–28,350
🔴 Resistance: 29,800
📉 Dynamic Resistance: Descending trendline
Disclaimer: This is an educational market analysis, not financial advice. Always wait for confirmation before entering a trade.
Trade active
Running in PROFITTrade closed: target reached
Closed 80% near the target & the remaining 20% is at entry point.......Love to trade
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.