Heading into the Tokyo session, MGC sits in a critical decision zone. Price action on the 5-minute shows a clear double bottom structure forming near $3,778 a level that has already acted as a demand shelf twice today. From a quant perspective, we have a short-term oversold condition colliding with intraday support, which typically presents a mean-reversion probability spike in low-liquidity Asian hours.
Bullish scenario (42% probability):
- Confirmation trigger is a break and hold above $3,787 (micro neckline).
- Immediate resistance comes in at $3,790–$3,794 (local VWAP + micro EMA confluence).
- If liquidity builds, stretch target aligns with the 50% fib retrace of the last swing at $3,391.7 (highly dependent on overnight momentum continuation).
- Risk: Tight stop just below $3,776 to avoid chop whipsaws.
Bearish scenario (58% probability):
- Failure to reclaim $3,787 opens the door for liquidity sweep below $3,778.
- Initial target $3,770, with potential extension toward $3,765 if Asia volume remains one-sided.
- Downside bias is supported by the broader 1H downtrend, VWAP resistance slope, and previous session imbalance still unfilled.
Factors in play:
- VWAP slope: Bearish.
- EMA separation: Expanding to the downside, signalling trend continuation potential.
- Volume profile: Thin liquidity below $3,778 increases probability of a stop-hunt flush before any reversal.
Tokyo session game plan:
Wait for breakout confirmation either a micro double bottom neckline break for the long scalp, or a rejection for the short continuation. Execution discipline is key; Tokyo often gives one clean directional push before stalling into consolidation.
Bullish scenario (42% probability):
- Confirmation trigger is a break and hold above $3,787 (micro neckline).
- Immediate resistance comes in at $3,790–$3,794 (local VWAP + micro EMA confluence).
- If liquidity builds, stretch target aligns with the 50% fib retrace of the last swing at $3,391.7 (highly dependent on overnight momentum continuation).
- Risk: Tight stop just below $3,776 to avoid chop whipsaws.
Bearish scenario (58% probability):
- Failure to reclaim $3,787 opens the door for liquidity sweep below $3,778.
- Initial target $3,770, with potential extension toward $3,765 if Asia volume remains one-sided.
- Downside bias is supported by the broader 1H downtrend, VWAP resistance slope, and previous session imbalance still unfilled.
Factors in play:
- VWAP slope: Bearish.
- EMA separation: Expanding to the downside, signalling trend continuation potential.
- Volume profile: Thin liquidity below $3,778 increases probability of a stop-hunt flush before any reversal.
Tokyo session game plan:
Wait for breakout confirmation either a micro double bottom neckline break for the long scalp, or a rejection for the short continuation. Execution discipline is key; Tokyo often gives one clean directional push before stalling into consolidation.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.