1. Market Structure Context
Trend Prior to CHoCH: Bullish structure with higher highs and higher lows.
CHoCH (Change of Character): Occurred at $136.83 — a key higher low broke, indicating a possible trend reversal from bullish to bearish.
BOS (Break of Structure): Confirmed at $153.85, marking a shift to lower highs and supporting bearish continuation.
2. Key Supply & Demand Zones
🟥 Supply Zone (Resistance):
$153.05 – $153.85
Price previously distributed here before dropping.
Acts as a liquidity trap for late buyers and resistance for pullbacks.
🟩 Demand Zones (Support):
Zone 1: $147.00 – $148.00 → Minor demand; short-term reaction likely.
Zone 2: $144.50 – $146.00 → Historical pivot with volume; moderate demand.
Zone 3: $138.00 – $142.00 → Consolidation base; strong prior bullish impulse.
Zone 4: $134.00 – $137.00 → Final defense; includes the CHoCH at $136.83 and expected reaction if deeper retracement occurs.
3. Current Price Action (Bordered Region Focus)
Price currently trades around $151.06, beneath the key supply zone.
The market rejected supply and showed a bearish reaction.
Expectation: A pullback to ~$153 may occur, targeting trapped liquidity, before resuming bearish movement.
Next targets:
Primary: $147.50 (Demand Zone 1)
Secondary: $144.50 if breakdown intensifies.
Trend Prior to CHoCH: Bullish structure with higher highs and higher lows.
CHoCH (Change of Character): Occurred at $136.83 — a key higher low broke, indicating a possible trend reversal from bullish to bearish.
BOS (Break of Structure): Confirmed at $153.85, marking a shift to lower highs and supporting bearish continuation.
2. Key Supply & Demand Zones
🟥 Supply Zone (Resistance):
$153.05 – $153.85
Price previously distributed here before dropping.
Acts as a liquidity trap for late buyers and resistance for pullbacks.
🟩 Demand Zones (Support):
Zone 1: $147.00 – $148.00 → Minor demand; short-term reaction likely.
Zone 2: $144.50 – $146.00 → Historical pivot with volume; moderate demand.
Zone 3: $138.00 – $142.00 → Consolidation base; strong prior bullish impulse.
Zone 4: $134.00 – $137.00 → Final defense; includes the CHoCH at $136.83 and expected reaction if deeper retracement occurs.
3. Current Price Action (Bordered Region Focus)
Price currently trades around $151.06, beneath the key supply zone.
The market rejected supply and showed a bearish reaction.
Expectation: A pullback to ~$153 may occur, targeting trapped liquidity, before resuming bearish movement.
Next targets:
Primary: $147.50 (Demand Zone 1)
Secondary: $144.50 if breakdown intensifies.
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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.
Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
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.