Price just tapped into a key confluence zone around 3367–3376, aligning with the 78.6% fib retracement, previous resistance, and a psychological level.
The latest 4H candle is showing classic buy exhaustion — long upper wick, small body, and failure to close above resistance. This could be the first sign of a momentum shift or short-term pullback.
I’m watching for a bearish confirmation candle next. If that shows up, a sell setup targeting back to 3325/3310 could develop.
Aggressive sellers might already be in. Conservative ones may wait for a clean bearish engulfing or break of market structure.
The latest 4H candle is showing classic buy exhaustion — long upper wick, small body, and failure to close above resistance. This could be the first sign of a momentum shift or short-term pullback.
I’m watching for a bearish confirmation candle next. If that shows up, a sell setup targeting back to 3325/3310 could develop.
Aggressive sellers might already be in. Conservative ones may wait for a clean bearish engulfing or break of market structure.
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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.