On the H1 chart, price recently broke below the ascending channel and is now retesting a lower support block. The 3350 area aligns with a Fair Value Gap (FVG) from previous price action, making it an interesting level to monitor for potential reaction.
If price respects the current support, a move back toward the 3380–3390 zone is possible; however, a sustained break lower could see price reaching deeper into the FVG zone near 3350 and possibly the 3344 level.
This is a technical observation based on such as market structure shift, imbalance (FVG), and liquidity zones. This post is for educational purposes only and not a trade recommendation.
If price respects the current support, a move back toward the 3380–3390 zone is possible; however, a sustained break lower could see price reaching deeper into the FVG zone near 3350 and possibly the 3344 level.
This is a technical observation based on such as market structure shift, imbalance (FVG), and liquidity zones. This post is for educational purposes only and not a trade recommendation.
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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.
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.