HTF structure is firmly bearish with price well below declining averages and pressing fresh swing lows. The LTF confirmed downside with a high-volume flush through the 598-600 shelf; rather than chase at the low, the cleaner trade is a short on a retest of the breakdown area near 592.75. A reclaim above 597.5 would put price back inside the prior range and invalidate the immediate bear continuation. Target is the next HTF support zone near 580.5 from the prior base.
📍 Entry: 592.75
🛑 Stop: 597.50
🎯 Target: 580.50
⚖️ R:R: 2.58
📍 Entry: 592.75
🛑 Stop: 597.50
🎯 Target: 580.50
⚖️ R:R: 2.58
monk.trade — Trade setups and market intelligence
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monk.trade — Trade setups and market intelligence
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.