Update 🎯🎯
Market Structure
1. Trend: The market has been in a downtrend since mid-February, forming lower highs and lower lows.
2. Recent Price Action: There was a strong drop in mid-March, followed by a recovery attempt.
3. Current Zone: Price is hovering around 42,090, attempting to push higher after a recent low.
Key Levels
• Support: Around 41,500 - 41,800 (recent swing low area)
• Resistance: Around 42,500 - 42,700 (previous supply zone)
Possible Trade Setups
1. Bearish Scenario (Short)
• If price rejects the 42,500 - 42,700 resistance zone with a bearish candle, it could signal a short entry targeting 41,800 or lower.
• Confirmation: Bearish engulfing or rejection wicks.
2. Bullish Scenario (Long)
• If price breaks and holds above 42,700, it may indicate a trend reversal.
• A clean breakout with retest can signal a buy entry, targeting 43,000+.
Feel free to leave a Comment below ⬇️
Market Structure
1. Trend: The market has been in a downtrend since mid-February, forming lower highs and lower lows.
2. Recent Price Action: There was a strong drop in mid-March, followed by a recovery attempt.
3. Current Zone: Price is hovering around 42,090, attempting to push higher after a recent low.
Key Levels
• Support: Around 41,500 - 41,800 (recent swing low area)
• Resistance: Around 42,500 - 42,700 (previous supply zone)
Possible Trade Setups
1. Bearish Scenario (Short)
• If price rejects the 42,500 - 42,700 resistance zone with a bearish candle, it could signal a short entry targeting 41,800 or lower.
• Confirmation: Bearish engulfing or rejection wicks.
2. Bullish Scenario (Long)
• If price breaks and holds above 42,700, it may indicate a trend reversal.
• A clean breakout with retest can signal a buy entry, targeting 43,000+.
Feel free to leave a Comment below ⬇️
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.