4HR:
The price broke down from a double parallel channel, forming a lower low, which confirms a bearish bias. It then pulled back to retest the broken channel and resistance, where a long-wick candle rejection occurred.
This rejection also aligned with multiple previous Points of Control (POC), adding confluence.
Afterward, a shift from bullish to bearish was confirmed on the 15-minute timeframe.
A clean 1:2 risk-reward trade setup followed.
The price broke down from a double parallel channel, forming a lower low, which confirms a bearish bias. It then pulled back to retest the broken channel and resistance, where a long-wick candle rejection occurred.
This rejection also aligned with multiple previous Points of Control (POC), adding confluence.
Afterward, a shift from bullish to bearish was confirmed on the 15-minute timeframe.
A clean 1:2 risk-reward trade setup followed.
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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.