Yesterday’s price action (July 3) delivered a crucial structure break that changes our short-term trading outlook.
We were expecting a bullish continuation with a clean break above the 3365 M15 swing high.
Price reached as high as 3364, but failed to break the high — showing early signs of exhaustion.
Then came the PMI news release, triggering a sharp drop that broke the M15 Higher Low and shifted structure.
🔻 Structure Has Shifted
As of today, July 4, the intraday market structure has flipped from bullish to bearish.
✅ M15 trend: Now in a confirmed downtrend
✅ H4 trend: Entering a pullback phase
❌ Previous bullish continuation setup is invalidated
We now adjust our approach to align with the new structure — not the old expectation.
📉 Updated Bias: Short
With M15 and H4 now aligned in pullback, our active bias is bearish.
This means:
• We are not planning any long trades until structure shifts back
• Focus shifts to short setups only, executed with discipline
🔍 Intraday Short Setup Plan – July 4
We are watching for price to retrace into valid M15 POI zones before resuming the downtrend.
🔸 First zone to watch:
• 3348–3352 → M15 POI with strong probability for rejection
🔹 Execution Rule:
→ If price enters this zone
→ And we see M1 confirmation (ChoCh + micro BoS)
→ We will plan a short entry, with structure-based SL and minimum 1:3 RR
🎯 Downside Levels Ahead:
If bearish momentum continues, the next potential reversal/support zone is:
📍 3280–3285
→ This will be a key area to observe for signs of exhaustion or base formation
→ Until then, trend remains valid to the downside
🧭 Final Thoughts:
This shift from bullish to bearish bias is a textbook example of why we follow structure — not predictions.
The market gave a clean BoS at 3358, but failed to follow through.
Instead of forcing the long, we’ve now flipped bias in line with the chart’s reflection.
📖 Let the chart guide your thinking.
Structure reveals the direction.
Confirmation controls the execution.
The chart is the mirror.
📘 Shared by ChartIsMirror
Author of The Chart Is the Mirror: Mastering Gold with Structure, Stillness, and Price Action
We were expecting a bullish continuation with a clean break above the 3365 M15 swing high.
Price reached as high as 3364, but failed to break the high — showing early signs of exhaustion.
Then came the PMI news release, triggering a sharp drop that broke the M15 Higher Low and shifted structure.
🔻 Structure Has Shifted
As of today, July 4, the intraday market structure has flipped from bullish to bearish.
✅ M15 trend: Now in a confirmed downtrend
✅ H4 trend: Entering a pullback phase
❌ Previous bullish continuation setup is invalidated
We now adjust our approach to align with the new structure — not the old expectation.
📉 Updated Bias: Short
With M15 and H4 now aligned in pullback, our active bias is bearish.
This means:
• We are not planning any long trades until structure shifts back
• Focus shifts to short setups only, executed with discipline
🔍 Intraday Short Setup Plan – July 4
We are watching for price to retrace into valid M15 POI zones before resuming the downtrend.
🔸 First zone to watch:
• 3348–3352 → M15 POI with strong probability for rejection
🔹 Execution Rule:
→ If price enters this zone
→ And we see M1 confirmation (ChoCh + micro BoS)
→ We will plan a short entry, with structure-based SL and minimum 1:3 RR
🎯 Downside Levels Ahead:
If bearish momentum continues, the next potential reversal/support zone is:
📍 3280–3285
→ This will be a key area to observe for signs of exhaustion or base formation
→ Until then, trend remains valid to the downside
🧭 Final Thoughts:
This shift from bullish to bearish bias is a textbook example of why we follow structure — not predictions.
The market gave a clean BoS at 3358, but failed to follow through.
Instead of forcing the long, we’ve now flipped bias in line with the chart’s reflection.
📖 Let the chart guide your thinking.
Structure reveals the direction.
Confirmation controls the execution.
The chart is the mirror.
📘 Shared by ChartIsMirror
Author of The Chart Is the Mirror: Mastering Gold with Structure, Stillness, and Price Action
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.