🔍 Technical Analysis Summary:
📍 Sell Entry Point:
Price: 33,196.164
This level represents a potential reversal zone after testing a strong resistance area. Signs of buyer exhaustion suggest a possible downward move.
📍 Stop Loss (SL):
Level: 33,707.466
Positioned above a key resistance zone (highlighted in red). If price breaks above this level, the bearish setup would be invalidated.
📍 Target Levels (Take Profit):
Target 1 (T1): 31,693.736
A well-established support level tested multiple times. A likely bounce zone.
Target 2 (T2): 31,300.428
A deeper support area. This level offers a more extended profit target if bearish momentum continues.
📈 Price Action & Trend Insight:
The recent movement shows a temporary bullish correction, but momentum is fading near the resistance zone between 33,472 – 33,707.
A possible double-top pattern has formed, indicating weakness in buying pressure.
If the price breaks below 32,900, this could trigger accelerated selling toward T1 and T2.
📌 Additional Notes:
✅ Risk-to-Reward Ratio:
Risk (SL to Entry): ~510 points
Reward to T1: ~1,500 points
Reward to T2: ~1,900 points
This offers a favorable risk/reward setup for short sellers.
✅ Candlestick Behavior:
Reversal candles appear near the resistance area, confirming possible trend exhaustion.
📊 Conclusion:
This setup indicates a high-probability short trade below 33,200, with confirmation needed through price weakness.
A strict stop loss at 33,707 should be maintained to manage risk effectively.
📍 Sell Entry Point:
Price: 33,196.164
This level represents a potential reversal zone after testing a strong resistance area. Signs of buyer exhaustion suggest a possible downward move.
📍 Stop Loss (SL):
Level: 33,707.466
Positioned above a key resistance zone (highlighted in red). If price breaks above this level, the bearish setup would be invalidated.
📍 Target Levels (Take Profit):
Target 1 (T1): 31,693.736
A well-established support level tested multiple times. A likely bounce zone.
Target 2 (T2): 31,300.428
A deeper support area. This level offers a more extended profit target if bearish momentum continues.
📈 Price Action & Trend Insight:
The recent movement shows a temporary bullish correction, but momentum is fading near the resistance zone between 33,472 – 33,707.
A possible double-top pattern has formed, indicating weakness in buying pressure.
If the price breaks below 32,900, this could trigger accelerated selling toward T1 and T2.
📌 Additional Notes:
✅ Risk-to-Reward Ratio:
Risk (SL to Entry): ~510 points
Reward to T1: ~1,500 points
Reward to T2: ~1,900 points
This offers a favorable risk/reward setup for short sellers.
✅ Candlestick Behavior:
Reversal candles appear near the resistance area, confirming possible trend exhaustion.
📊 Conclusion:
This setup indicates a high-probability short trade below 33,200, with confirmation needed through price weakness.
A strict stop loss at 33,707 should be maintained to manage risk effectively.
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.