1. Market Context
On the M30 timeframe, the previous downtrend has started to weaken. The price has formed a series of Equal Lows patterns, indicating that the short-term bottom is protected, followed by a Change of Character (ChoCH) and a slight Break of Structure (BOS). This reflects that the selling pressure has decreased in intensity and the market is transitioning into an accumulation phase, preparing for a recovery.
The downtrend line is still valid, but the price is approaching the breakout area. Closing candles above this line will confirm a phase transition.
2. Key Price Areas
Upper Supply Zone
4,239 – 4,240: the nearest strong reaction area, acting as the main resistance.
4,261: coincides with the 1.272 Fibonacci of the correction wave, a notable liquidity area.
4,282 – 4,283: expansion target, corresponding to Fibonacci 1.618.
These areas will be points where the market may show counter-reactions during the uptrend.
Lower Demand Zone
4,168 – 4,154: the Demand Zone formed from the previous strong reversal. This is the area where the market effectively absorbed selling pressure and may continue to act as support during corrections.
3. Fibo and Price Action
The current uptrend is following a standard pullback structure: from the 4,168 bottom, the price recovers to Fibonacci levels like 0.236 – 0.382, then forms a small correction before approaching the downtrend line again.
If the price surpasses the trendline, the next targets will be:
4,213 (Fibo 0.618),
then the main supply zone 4,239 – 4,240.
Closing candles above this area will pave the way for the next targets at 4,261 and 4,282.
4. Trading Plan
Buy Scenario – prioritize during correction
Early buy position: 4,188 – 4,195
(retest small structure and trendline)
Optimal buy zone: 4,168 – 4,154
(Demand Zone + deep Fibo correction)
Stop loss: below 4,150
Targets:
4,213
4,239 – 4,240
4,261
expanding to 4,282
Short-term Sell Scalp Scenario
Reaction zone: 4,227 – 4,230
(near resistance + 0.786 Fibo)
Stop loss: 4,236
Target: 4,205 – 4,195
Note: This is only a short-term strategy, not the main trend.
5. Summary
• The market structure is transitioning from a downtrend to an accumulation – recovery phase.
• If the price surpasses and holds above the trendline, the nearest target will be 4,239 – 4,240.
• The supply zones 4,239 – 4,261 – 4,282 will play a decisive role in the next uptrend.
• The most effective trading strategy remains to wait for a buy during corrections to the strong support zone 4,168 – 4,154.
On the M30 timeframe, the previous downtrend has started to weaken. The price has formed a series of Equal Lows patterns, indicating that the short-term bottom is protected, followed by a Change of Character (ChoCH) and a slight Break of Structure (BOS). This reflects that the selling pressure has decreased in intensity and the market is transitioning into an accumulation phase, preparing for a recovery.
The downtrend line is still valid, but the price is approaching the breakout area. Closing candles above this line will confirm a phase transition.
2. Key Price Areas
Upper Supply Zone
4,239 – 4,240: the nearest strong reaction area, acting as the main resistance.
4,261: coincides with the 1.272 Fibonacci of the correction wave, a notable liquidity area.
4,282 – 4,283: expansion target, corresponding to Fibonacci 1.618.
These areas will be points where the market may show counter-reactions during the uptrend.
Lower Demand Zone
4,168 – 4,154: the Demand Zone formed from the previous strong reversal. This is the area where the market effectively absorbed selling pressure and may continue to act as support during corrections.
3. Fibo and Price Action
The current uptrend is following a standard pullback structure: from the 4,168 bottom, the price recovers to Fibonacci levels like 0.236 – 0.382, then forms a small correction before approaching the downtrend line again.
If the price surpasses the trendline, the next targets will be:
4,213 (Fibo 0.618),
then the main supply zone 4,239 – 4,240.
Closing candles above this area will pave the way for the next targets at 4,261 and 4,282.
4. Trading Plan
Buy Scenario – prioritize during correction
Early buy position: 4,188 – 4,195
(retest small structure and trendline)
Optimal buy zone: 4,168 – 4,154
(Demand Zone + deep Fibo correction)
Stop loss: below 4,150
Targets:
4,213
4,239 – 4,240
4,261
expanding to 4,282
Short-term Sell Scalp Scenario
Reaction zone: 4,227 – 4,230
(near resistance + 0.786 Fibo)
Stop loss: 4,236
Target: 4,205 – 4,195
Note: This is only a short-term strategy, not the main trend.
5. Summary
• The market structure is transitioning from a downtrend to an accumulation – recovery phase.
• If the price surpasses and holds above the trendline, the nearest target will be 4,239 – 4,240.
• The supply zones 4,239 – 4,261 – 4,282 will play a decisive role in the next uptrend.
• The most effective trading strategy remains to wait for a buy during corrections to the strong support zone 4,168 – 4,154.
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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.
Join Community Gold BMR_MasteTrade:
t.me/+p2iJeq3yBUYyNDJl
t.me/+p2iJeq3yBUYyNDJl
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.