📌 Current Bias:
Short-term: Bearish, as we are in a downtrend with recent BOS and CHoCH to the downside.
Potential Reversal Area: Around the 0.786 Fib retracement and lower demand zone, especially if price forms bullish structure (like an I-CHoCH or BoS to the upside).
✅ Trading Opportunities:
1. Conservative Long Setup:
-Wait for a bullish CHoCH or I-BoS within the demand zone.
-Target the 0.5 or 0.382 Fibonacci retracement or imbalance zones above.
2. Continuation Short Setup:
-Look for rejection from 0.5 or 0.618 levels with bearish CHoCH.
-Enter short targeting the previous low around 103,000.
Short-term: Bearish, as we are in a downtrend with recent BOS and CHoCH to the downside.
Potential Reversal Area: Around the 0.786 Fib retracement and lower demand zone, especially if price forms bullish structure (like an I-CHoCH or BoS to the upside).
✅ Trading Opportunities:
1. Conservative Long Setup:
-Wait for a bullish CHoCH or I-BoS within the demand zone.
-Target the 0.5 or 0.382 Fibonacci retracement or imbalance zones above.
2. Continuation Short Setup:
-Look for rejection from 0.5 or 0.618 levels with bearish CHoCH.
-Enter short targeting the previous low around 103,000.
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.
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.