Market Structure:
Price is moving inside a rising channel (support + rejection trendlines).
A clear BOS (Break of Structure) occurred to the downside after the last push up.
Recent highs show weak bullish continuation → likely liquidity grab.
Key Zones:
Resistance / Supply Zone: 4584 – 4623
Current Price Area: ~4585 (reaction zone)
Target / Demand Zone: 4536
Scenario Breakdown:
Bearish Setup (Primary):
Price taps into the highlighted supply zone.
Shows rejection / weak structure (as drawn).
Then drops toward:
First target: ~4540
Main target: 4536
✔ Confluence:
BOS already formed
Lower high forming
Trendline resistance + supply overlap
Bullish Invalidation:
Strong breakout above 4623
Acceptance above supply = trend continuation upward
Trade Idea:
Sell zone: 4584 – 4600
Stop loss: Above 4625
Take profit: 4540 → 4536
Summary:
Market is showing distribution at the top of the channel. Unless bulls reclaim 4623, bias remains short-term bearish toward the 4536 liquidity zone.
Price is moving inside a rising channel (support + rejection trendlines).
A clear BOS (Break of Structure) occurred to the downside after the last push up.
Recent highs show weak bullish continuation → likely liquidity grab.
Key Zones:
Resistance / Supply Zone: 4584 – 4623
Current Price Area: ~4585 (reaction zone)
Target / Demand Zone: 4536
Scenario Breakdown:
Bearish Setup (Primary):
Price taps into the highlighted supply zone.
Shows rejection / weak structure (as drawn).
Then drops toward:
First target: ~4540
Main target: 4536
✔ Confluence:
BOS already formed
Lower high forming
Trendline resistance + supply overlap
Bullish Invalidation:
Strong breakout above 4623
Acceptance above supply = trend continuation upward
Trade Idea:
Sell zone: 4584 – 4600
Stop loss: Above 4625
Take profit: 4540 → 4536
Summary:
Market is showing distribution at the top of the channel. Unless bulls reclaim 4623, bias remains short-term bearish toward the 4536 liquidity zone.
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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.
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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.