Price has pushed back into a 4H Fair Value Gap (FVG) and a clearly defined supply zone between 0.2730 and 0.2750 after a strong bullish move. This area has previously rejected price multiple times, suggesting institutional selling pressure.
I’ve taken a short position from this zone with a stop loss just above the FVG (~0.2784) and a target at the recent demand level around 0.2625, aligning with the lower support level.
Confluences:
• 4H FVG acting as supply.
• Bearish reaction at previous structural highs.
• Risk-reward ratio favorable (around 2.5R).
If price breaks and closes above 0.2785 with strong momentum, the setup becomes invalid. Until then, I’ll be monitoring for rejection signals and potential continuation to the downside.
I’ve taken a short position from this zone with a stop loss just above the FVG (~0.2784) and a target at the recent demand level around 0.2625, aligning with the lower support level.
Confluences:
• 4H FVG acting as supply.
• Bearish reaction at previous structural highs.
• Risk-reward ratio favorable (around 2.5R).
If price breaks and closes above 0.2785 with strong momentum, the setup becomes invalid. Until then, I’ll be monitoring for rejection signals and potential continuation to the downside.
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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.