Summary: HTF uptrend intact; price is compressing inside a rising channel just under 117.4–117.6 (PDH/supply/premium edge). Intraday path: hold 116.7–116.9 → retest 117.4; lose 116.7 → slide to PDL/EQ.
Structure
Weekly: HH/HL above trendlines; weak high ~120k remains a magnet if 118k clears.
Daily: Riding 21/50D EMAs in an ascending channel; shallow pullbacks bought.
4H: Repeated rejections at 117.4–117.6; higher lows along inner trendline.
30m: Tap of channel/EMA confluence 116.7–116.9 after a PDH sweep; momentum neutral.
Key Levels
R1: 117.4–117.6 (PDH/EQH)
R2: 117.9–118.2
R3: 119.6
R4: 120.0k (weak high/liquidity)
S1: 116.9–116.7 (trendline + EMAs)
S2: 116.1 (PDL)
S3: 115.5–115.0 (Equilibrium block)
S4: 114.9–114.4 (demand)
S5: 112.8–112.2 (discount/“strong low”)
Momentum / Volume
RSI mid-50s (room either way).
ADX ~23 (trend mild) → next break likely expands.
Sell wicks at PDH; lighter pullback volume favors bounce if S1 holds.
Setups (If-Then)
Breakout Long: 30m/4H close >117.6 → 117.9/118.2 → 119.6 → 120k.
Invalidation: swift slip <117.2.
Range Long (buy the dip): Bullish reaction at 116.7–116.9 → 117.0 → 117.4–117.6.
Invalidation: 30m close <116.7.
Breakdown Short: Clean 30m close <116.7 then <116.0 → 116.1 → 115.5–114.6; stretch 112.8.
Invalidation: reclaim >116.9.
Bias: Neutral-to-bullish above 116.7 (look for 117.4 retest / 118k squeeze). Bearish below 116.7, targeting PDL → EQ. Wait for edge breaks; avoid mid-range chop 117.0–117.3.
Structure
Weekly: HH/HL above trendlines; weak high ~120k remains a magnet if 118k clears.
Daily: Riding 21/50D EMAs in an ascending channel; shallow pullbacks bought.
4H: Repeated rejections at 117.4–117.6; higher lows along inner trendline.
30m: Tap of channel/EMA confluence 116.7–116.9 after a PDH sweep; momentum neutral.
Key Levels
R1: 117.4–117.6 (PDH/EQH)
R2: 117.9–118.2
R3: 119.6
R4: 120.0k (weak high/liquidity)
S1: 116.9–116.7 (trendline + EMAs)
S2: 116.1 (PDL)
S3: 115.5–115.0 (Equilibrium block)
S4: 114.9–114.4 (demand)
S5: 112.8–112.2 (discount/“strong low”)
Momentum / Volume
RSI mid-50s (room either way).
ADX ~23 (trend mild) → next break likely expands.
Sell wicks at PDH; lighter pullback volume favors bounce if S1 holds.
Setups (If-Then)
Breakout Long: 30m/4H close >117.6 → 117.9/118.2 → 119.6 → 120k.
Invalidation: swift slip <117.2.
Range Long (buy the dip): Bullish reaction at 116.7–116.9 → 117.0 → 117.4–117.6.
Invalidation: 30m close <116.7.
Breakdown Short: Clean 30m close <116.7 then <116.0 → 116.1 → 115.5–114.6; stretch 112.8.
Invalidation: reclaim >116.9.
Bias: Neutral-to-bullish above 116.7 (look for 117.4 retest / 118k squeeze). Bearish below 116.7, targeting PDL → EQ. Wait for edge breaks; avoid mid-range chop 117.0–117.3.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
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.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
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.