đź“Ś Key Observations
Previous Structure Shift (QM + Break of Structure):
There was a clear Quasimodo (QM) formation at the top, followed by a break of structure to the downside, confirming bearish intent.
The high created liquidity and was swept—then price broke below the QM low confirming order flow shift.
Bearish Channel Breakout & Retest:
Price broke below the rising wedge (bearish reversal pattern).
Retested inside a minor bearish flag now acting as a continuation pattern (currently breaking it down again).
Current Price Action:
Price is reacting to a supply zone inside the red box, which also aligns with:
A previous order block.
A potential breaker structure.
This zone also represents a BOS retest.
🧠Trade Idea (Sell Bias Confirmed)
âś… Entry: Inside the red supply zone (already showing rejection).
🎯 Target Zones:
TP1: 85.15 → minor demand zone + previous structure.
TP2: 84.20 → mid-level POI.
TP3: 83.14 → major demand/FVG zone.
TP4: 82.58 → extreme demand and liquidity resting point.
đź“Ť Stop Loss: Above the red zone, ~85.95 to 86.00 area.
đź”» Risk-to-Reward (RR): The RR to final target (TP4) looks excellent (~1:4 to 1:5+).
🧩 Volume/Engulfing Confirmation (Optional)
You may wait for a bearish engulfing candle inside the red zone with bearish volume to confirm entry if you're applying your VSA + engulfing method.
Previous Structure Shift (QM + Break of Structure):
There was a clear Quasimodo (QM) formation at the top, followed by a break of structure to the downside, confirming bearish intent.
The high created liquidity and was swept—then price broke below the QM low confirming order flow shift.
Bearish Channel Breakout & Retest:
Price broke below the rising wedge (bearish reversal pattern).
Retested inside a minor bearish flag now acting as a continuation pattern (currently breaking it down again).
Current Price Action:
Price is reacting to a supply zone inside the red box, which also aligns with:
A previous order block.
A potential breaker structure.
This zone also represents a BOS retest.
🧠Trade Idea (Sell Bias Confirmed)
âś… Entry: Inside the red supply zone (already showing rejection).
🎯 Target Zones:
TP1: 85.15 → minor demand zone + previous structure.
TP2: 84.20 → mid-level POI.
TP3: 83.14 → major demand/FVG zone.
TP4: 82.58 → extreme demand and liquidity resting point.
đź“Ť Stop Loss: Above the red zone, ~85.95 to 86.00 area.
đź”» Risk-to-Reward (RR): The RR to final target (TP4) looks excellent (~1:4 to 1:5+).
🧩 Volume/Engulfing Confirmation (Optional)
You may wait for a bearish engulfing candle inside the red zone with bearish volume to confirm entry if you're applying your VSA + engulfing method.
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.