📉 Overview from Weekly Timeframe:
Price was rejected strongly from key resistance zone and the 50EMA, forming a large bearish rejection candle. This signals a potential momentum shift to the downside after a prolonged rally.
📉 Daily Chart Explanation:
Price has broken the ascending trendline and is now trading below the 50EMA, suggesting bearish control. Multiple rejection candles at the trendline retest indicate that sellers are defending the zone aggressively.
📉 4H Chart Explanation:
The 4H chart confirms the bearish bias with a clean trendline break and sustained movement below the 50EMA. The structure now favors lower highs and lower lows.
🔎 Plan
Bias: Bearish
Entry: On pullback to broken trendline or 50EMA area (confluence zone)
Targets:
TP1: Recent swing low
TP2: Weekly support zone
Invalidation: Break and close above the 50EMA on 4H
Price was rejected strongly from key resistance zone and the 50EMA, forming a large bearish rejection candle. This signals a potential momentum shift to the downside after a prolonged rally.
📉 Daily Chart Explanation:
Price has broken the ascending trendline and is now trading below the 50EMA, suggesting bearish control. Multiple rejection candles at the trendline retest indicate that sellers are defending the zone aggressively.
📉 4H Chart Explanation:
The 4H chart confirms the bearish bias with a clean trendline break and sustained movement below the 50EMA. The structure now favors lower highs and lower lows.
🔎 Plan
Bias: Bearish
Entry: On pullback to broken trendline or 50EMA area (confluence zone)
Targets:
TP1: Recent swing low
TP2: Weekly support zone
Invalidation: Break and close above the 50EMA on 4H
Note
First entry triggered.Trade closed: target reached
TP hit
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.