Price has aggressively recovered from the demand zone around $101,000–$101,500, initiating a sharp bullish leg into a previously defined supply zone between $104,260–$104,787. This region also overlaps with a prior inefficiency and strong sell-off area.
📌 Key Highlights:
PDH (Previous Day High) has been swept.
Price is now entering a confluence of resistance:
🔹 Bearish order block
🔹 Supply zone
🔹 Volume imbalance filled
Clear reaction anticipated as buyers begin to slow down near $104,260–$104,787.
Lower timeframe structure suggests bullish exhaustion as we tap into this zone.
📉 Bias: Bearish
💡 Scenario: Looking for potential rejection from current levels for a move back into $103,116, with deeper downside targets near $102,600 and possibly back into the demand zone below $101,500.
Trade Setup Idea:
Entry: ~$104,260–$104,787
TP1: $103,100
TP2: $102,600
SL: Above $104,800
Invalidation: Clean break and close above $104,800 on higher timeframes.
🧠 Watch price action closely within this zone before entering. Patience will be key for precision.
📌 Key Highlights:
PDH (Previous Day High) has been swept.
Price is now entering a confluence of resistance:
🔹 Bearish order block
🔹 Supply zone
🔹 Volume imbalance filled
Clear reaction anticipated as buyers begin to slow down near $104,260–$104,787.
Lower timeframe structure suggests bullish exhaustion as we tap into this zone.
📉 Bias: Bearish
💡 Scenario: Looking for potential rejection from current levels for a move back into $103,116, with deeper downside targets near $102,600 and possibly back into the demand zone below $101,500.
Trade Setup Idea:
Entry: ~$104,260–$104,787
TP1: $103,100
TP2: $102,600
SL: Above $104,800
Invalidation: Clean break and close above $104,800 on higher timeframes.
🧠 Watch price action closely within this zone before entering. Patience will be key for precision.
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.