As anticipated, price has rejected the horizontal level and is now pulling back into a key demand zone on the H1–H4 timeframe.
I’m watching this area closely for bullish confirmation to take a long position toward the upper target zone. If bullish price action does not appear and bearish momentum continues, we could see an extended move down toward the weekly 100.00 level.
That said, I currently favor the upside scenario, with the expectation that the highlighted upper zone will be met — but only if the market confirms.
This setup is still theoretical. Patience is key — we trade based on confirmation, not assumption. Stay tuned for updates.
I’m watching this area closely for bullish confirmation to take a long position toward the upper target zone. If bullish price action does not appear and bearish momentum continues, we could see an extended move down toward the weekly 100.00 level.
That said, I currently favor the upside scenario, with the expectation that the highlighted upper zone will be met — but only if the market confirms.
This setup is still theoretical. Patience is key — we trade based on confirmation, not assumption. Stay tuned for updates.
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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.
Related publications
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.