🔵 Entry Point (Sell Limit / Market Entry)
• Around $104,600 – $104,700
This area aligns with the retest of the descending trend line and a weak resistance zone. Price is reacting negatively after hitting this level.
🟥 Stop Loss
• $107,060
Placed just above the weak resistance. This protects the trade in case price breaks structure and invalidates the bearish setup.
🟩 Take Profit Targets
1. TP1: $101,818 (Support 1)
o First major support zone; price has bounced here previously.
2. TP2: $98,020 (Support 2)
o Deeper support and more aggressive target. Aligned with previous wick lows.
🔺 Chart Observations
• Trend Line: Still intact and respected. Price rejected it on the latest retest.
• Structure: Lower highs and lower lows show bearish momentum.
• Volume/Volatility: Tapering candles around resistance indicate weakening bullish attempts.
• Risk-to-Reward
o TP1 R:R ≈ 1.3:1
o TP2 R:R ≈ 2.5:1+
⚠️ Scalper Note
If you’re trading this as a scalp, consider securing partial profits at TP1 and moving SL to breakeven to protect gains. Volatility around macro events or news (like the red event icons near June 3–5) could trigger wicks.
Would you like me to add RSI, MACD, or EMA confluence to strengthen the setup further?
• Around $104,600 – $104,700
This area aligns with the retest of the descending trend line and a weak resistance zone. Price is reacting negatively after hitting this level.
🟥 Stop Loss
• $107,060
Placed just above the weak resistance. This protects the trade in case price breaks structure and invalidates the bearish setup.
🟩 Take Profit Targets
1. TP1: $101,818 (Support 1)
o First major support zone; price has bounced here previously.
2. TP2: $98,020 (Support 2)
o Deeper support and more aggressive target. Aligned with previous wick lows.
🔺 Chart Observations
• Trend Line: Still intact and respected. Price rejected it on the latest retest.
• Structure: Lower highs and lower lows show bearish momentum.
• Volume/Volatility: Tapering candles around resistance indicate weakening bullish attempts.
• Risk-to-Reward
o TP1 R:R ≈ 1.3:1
o TP2 R:R ≈ 2.5:1+
⚠️ Scalper Note
If you’re trading this as a scalp, consider securing partial profits at TP1 and moving SL to breakeven to protect gains. Volatility around macro events or news (like the red event icons near June 3–5) could trigger wicks.
Would you like me to add RSI, MACD, or EMA confluence to strengthen the setup further?
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
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.
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
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.