Pattern Formed: DOUBLE TOP
⚠️ Bearish Reversal Pattern Spotted!
📍 Formed near 111,794.8
⬆️ Price tested the top twice and failed – strong resistance confirmed!
Key Zones:
🔶 SUPPLY ZONE (Resistance):
🟧 111,794.8 - 111,829.8
🔼 Expect selling pressure here!
🔷 SUPPORT Zone (Broken!):
🔻 Price fell below this level, confirming a bearish breakout
🟩 TARGET ZONE:
🎯 102,500.0
✅ This is the likely drop target based on the pattern
🧊 Other minor supports:
* 102,820.6
* 102,750.8
* 102,227.0.
Indicators:
📈 Trend Line
* Supported the price during the uptrend
* ❌ Now broken — indicates momentum shift
📉 EMA 70 (Red Line)
* Current Price (108,238.6) is below EMA 70 = 109,245.0
* Indicates bearish pressure.
Trade Setup:
🔽 Short Entry Idea: After support break
🛑 Stop Loss: 111,829.8
🎯 Take Profit: 102,500.0
⚖️ Risk-Reward looks attractive!
Summary:
📉 Bearish bias confirmed by:
* Double Top pattern
* Supply zone rejection
* Support break
* EMA crossover
🚨 Traders Watch Out: Bears are in control — next major stop likely at 102,500.0!
⚠️ Bearish Reversal Pattern Spotted!
📍 Formed near 111,794.8
⬆️ Price tested the top twice and failed – strong resistance confirmed!
Key Zones:
🔶 SUPPLY ZONE (Resistance):
🟧 111,794.8 - 111,829.8
🔼 Expect selling pressure here!
🔷 SUPPORT Zone (Broken!):
🔻 Price fell below this level, confirming a bearish breakout
🟩 TARGET ZONE:
🎯 102,500.0
✅ This is the likely drop target based on the pattern
🧊 Other minor supports:
* 102,820.6
* 102,750.8
* 102,227.0.
Indicators:
📈 Trend Line
* Supported the price during the uptrend
* ❌ Now broken — indicates momentum shift
📉 EMA 70 (Red Line)
* Current Price (108,238.6) is below EMA 70 = 109,245.0
* Indicates bearish pressure.
Trade Setup:
🔽 Short Entry Idea: After support break
🛑 Stop Loss: 111,829.8
🎯 Take Profit: 102,500.0
⚖️ Risk-Reward looks attractive!
Summary:
📉 Bearish bias confirmed by:
* Double Top pattern
* Supply zone rejection
* Support break
* EMA crossover
🚨 Traders Watch Out: Bears are in control — next major stop likely at 102,500.0!
Trade active
Note
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join my tellegram channel
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join my refferal broker
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t.me/JaMesGoldFiGhteR786
join my refferal broker
xmglobal.com/referral?token=S4yGyqPUmU9uAANtb_YUoA
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.