As I explained in my intraday analysis earlier this week (up to Tuesday), the market has reacted exactly according to the projected scenario so far. You can review my last two pre-session analysis charts for confirmation.
In the current scenario, price has tapped the 5170.00 level, which aligns with a 1H timeframe bearish order block, twice — and importantly, no candle body has closed above this level. The recent swing low has formed within the weekly opening gap. However, both the 4H and 1H timeframes continue to show bearish market structure.
Today’s Tuesday candle is closing below the equilibrium low of Monday’s candle, which most likely signals a retracement toward the 5070–5040 zone.
Smart money always moves with precise calculation and timing. With the upcoming geopolitical announcement between the U.S. and Iran scheduled for Thursday, market reaction from this zone will be critical. Either price will turn bullish from this area, or a breakdown could lead the market toward the 4700 zone once again.
In the current scenario, price has tapped the 5170.00 level, which aligns with a 1H timeframe bearish order block, twice — and importantly, no candle body has closed above this level. The recent swing low has formed within the weekly opening gap. However, both the 4H and 1H timeframes continue to show bearish market structure.
Today’s Tuesday candle is closing below the equilibrium low of Monday’s candle, which most likely signals a retracement toward the 5070–5040 zone.
Smart money always moves with precise calculation and timing. With the upcoming geopolitical announcement between the U.S. and Iran scheduled for Thursday, market reaction from this zone will be critical. Either price will turn bullish from this area, or a breakdown could lead the market toward the 4700 zone once again.
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Related publications
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.