The market shows strong bearish dominance with price (22,207.79) below all key moving averages (EMA200: 22,743.51).
3 Bearish Confirmations:
ADX 35.85 + -DI (36.59) > +DI (11.27) = strong downtrend
RSI 28.53 shows oversold but no reversal momentum
MACD (-139.49) remains below signal line (-116.26)
Price struggles below Camarilla pivot (22,680.36) with immediate resistance at 22,534.35 (R1)
Multiple POTENTIAL downward patterns identified (Flat/Downward Candidates & Diagonal Structures)
Recent wave structures suggest Wave 3 extension in progress below 22,207
Contradiction: Oversold RSI vs. bearish wave count suggests possible relief rally before continuation
Action: SELL LIMIT
Entry Zone: 22,680-22,800 (61.8% Fib of recent swing high)
TP1: 22,156 (S1) | TP2: 21,853 (S2 Classic)
Stop-Loss: 22,900 (above EMA200)
Risk/Reward: 1:3.5 to TP2
Position Size: Risk 1% capital (220 pips risk)
Investor Summary
High-risk buying opportunity only if:
Daily close > EMA200 (22,743)
MACD bullish crossover
RSI sustains > 45
Accumulation zone: 21,800-22,200 with tight stops
3 Bearish Confirmations:
ADX 35.85 + -DI (36.59) > +DI (11.27) = strong downtrend
RSI 28.53 shows oversold but no reversal momentum
MACD (-139.49) remains below signal line (-116.26)
Price struggles below Camarilla pivot (22,680.36) with immediate resistance at 22,534.35 (R1)
Multiple POTENTIAL downward patterns identified (Flat/Downward Candidates & Diagonal Structures)
Recent wave structures suggest Wave 3 extension in progress below 22,207
Contradiction: Oversold RSI vs. bearish wave count suggests possible relief rally before continuation
Action: SELL LIMIT
Entry Zone: 22,680-22,800 (61.8% Fib of recent swing high)
TP1: 22,156 (S1) | TP2: 21,853 (S2 Classic)
Stop-Loss: 22,900 (above EMA200)
Risk/Reward: 1:3.5 to TP2
Position Size: Risk 1% capital (220 pips risk)
Investor Summary
High-risk buying opportunity only if:
Daily close > EMA200 (22,743)
MACD bullish crossover
RSI sustains > 45
Accumulation zone: 21,800-22,200 with tight stops
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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.