📉 Weekly Overview:
Price is currently held by a significant weekly resistance level. Last week formed bearish price action, indicating potential exhaustion from buyers and room for sellers to step in.
📉 Daily Chart:
Although no strong momentum candle yet, price has already broken internal bullish structure to the downside. EMA50 is starting to flatten, hinting at a potential momentum shift.
📉 4H Chart:
Clear sign of bearish transition – uptrend line is broken, price is now trading below the 50EMA, and we recently see strong seller momentum candles. This adds further confluence to bearish bias.
🔍 Plan:
Bias: Bearish
Entry: After bearish confirmation candle on 1H or 4H retracement to premium zone
Targets:
TP1: Previous 4H low
TP2: Daily support zone
Invalidation: Break and close above 4H 50EMA and recent structure high
Price is currently held by a significant weekly resistance level. Last week formed bearish price action, indicating potential exhaustion from buyers and room for sellers to step in.
📉 Daily Chart:
Although no strong momentum candle yet, price has already broken internal bullish structure to the downside. EMA50 is starting to flatten, hinting at a potential momentum shift.
📉 4H Chart:
Clear sign of bearish transition – uptrend line is broken, price is now trading below the 50EMA, and we recently see strong seller momentum candles. This adds further confluence to bearish bias.
🔍 Plan:
Bias: Bearish
Entry: After bearish confirmation candle on 1H or 4H retracement to premium zone
Targets:
TP1: Previous 4H low
TP2: Daily support zone
Invalidation: Break and close above 4H 50EMA and recent structure high
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.