📊 Key Technical Insights
1. Price Structure
Price recently rejected near 0.2550–0.2575 zone (supply/resistance).
Lower highs forming, indicating bearish market structure.
Current price (~0.2444) is just under minor resistance, which may confirm the start of a new leg down.
2. Risk-Reward Ratio
Risk: ~0.0131 (from 0.2444 to 0.2575)
Reward: ~0.0258 (from 0.2444 to 0.2186)
RRR: ~1:2 — Good risk-to-reward ratio.
3. Support Zones
Minor support: 0.2330–0.2300 area — could act as TP1.
Major support (TP2): 0.2186 — aligns with historical price reaction.
4. Candlestick Behavior
Rejection wicks seen near the 0.2550 zone, confirming supply presence.
Recent candles show selling pressure dominating.
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📉 Trade Plan Summary
Component Level
Sell Entry ~0.2444
Stop Loss 0.2575
TP1 ~0.2300
TP2 (Main) 0.2186
Trend Bearish
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✅ Confluences Supporting the Short Setup
Double/triple top formation around 0.2570.
Lower highs and bearish market structure.
Price rejected strongly from resistance zone.
Clean support zones below offer logical targets.
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🚨 Caution
If price breaks and closes above 0.2575 with strength, the bearish setup becomes invalid.
Watch for fakeouts or consolidation between 0.2400–0.2500.
1. Price Structure
Price recently rejected near 0.2550–0.2575 zone (supply/resistance).
Lower highs forming, indicating bearish market structure.
Current price (~0.2444) is just under minor resistance, which may confirm the start of a new leg down.
2. Risk-Reward Ratio
Risk: ~0.0131 (from 0.2444 to 0.2575)
Reward: ~0.0258 (from 0.2444 to 0.2186)
RRR: ~1:2 — Good risk-to-reward ratio.
3. Support Zones
Minor support: 0.2330–0.2300 area — could act as TP1.
Major support (TP2): 0.2186 — aligns with historical price reaction.
4. Candlestick Behavior
Rejection wicks seen near the 0.2550 zone, confirming supply presence.
Recent candles show selling pressure dominating.
---
📉 Trade Plan Summary
Component Level
Sell Entry ~0.2444
Stop Loss 0.2575
TP1 ~0.2300
TP2 (Main) 0.2186
Trend Bearish
---
✅ Confluences Supporting the Short Setup
Double/triple top formation around 0.2570.
Lower highs and bearish market structure.
Price rejected strongly from resistance zone.
Clean support zones below offer logical targets.
---
🚨 Caution
If price breaks and closes above 0.2575 with strength, the bearish setup becomes invalid.
Watch for fakeouts or consolidation between 0.2400–0.2500.
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.