📉 Technical Context:
Price has reacted precisely to the 0.618–0.786 Fibonacci retracement zone between 3,386–3,442 USD, aligning with a clear weekly supply zone and imbalance. The current market structure suggests a potential lower high, with the first target around 3,060 USD, and the second near 2,880–2,900 USD demand.
🧠 COT Report (as of April 29, 2025):
Non-Commercials (speculators) cut 18,519 long contracts, signaling waning bullish conviction.
Commercials (hedgers) increased shorts by +9,848 contracts, maintaining a bearish contrarian stance.
📊 Retail Sentiment (MyFxBook):
65% of retail traders are short from 3,062, while 35% are long from 3,184 — ideal environment for a bull trap before reversal.
📅 Seasonality (Market Bulls):
May is historically weak:
10Y: -9.98%
5Y: -12.21%
Strength historically returns in June/July → a correction before continuation is likely.
✅ Conclusion:
Technical structure, macro context, and positioning all align for a high-probability short.
📍 Entry Zone: 3,420–3,440
🔒 Stop: Above ATH (3,500)
🎯 Targets:
TP1: 3,060
TP2: 2,900
Price has reacted precisely to the 0.618–0.786 Fibonacci retracement zone between 3,386–3,442 USD, aligning with a clear weekly supply zone and imbalance. The current market structure suggests a potential lower high, with the first target around 3,060 USD, and the second near 2,880–2,900 USD demand.
🧠 COT Report (as of April 29, 2025):
Non-Commercials (speculators) cut 18,519 long contracts, signaling waning bullish conviction.
Commercials (hedgers) increased shorts by +9,848 contracts, maintaining a bearish contrarian stance.
📊 Retail Sentiment (MyFxBook):
65% of retail traders are short from 3,062, while 35% are long from 3,184 — ideal environment for a bull trap before reversal.
📅 Seasonality (Market Bulls):
May is historically weak:
10Y: -9.98%
5Y: -12.21%
Strength historically returns in June/July → a correction before continuation is likely.
✅ Conclusion:
Technical structure, macro context, and positioning all align for a high-probability short.
📍 Entry Zone: 3,420–3,440
🔒 Stop: Above ATH (3,500)
🎯 Targets:
TP1: 3,060
TP2: 2,900
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
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.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
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.