Market Structure Overview
Previous Trend: Strong bullish move after a long bearish trend.
Current Behavior: Price has entered a higher-timeframe supply zone (highlighted in green) and is showing signs of rejection.
Supply Zones:
Major Supply: 1.31750 – 1.32000
Minor Supply: 1.31000 – 1.31300
Demand Zones:
First Demand Zone: ~1.30380
Second Demand Zone: ~1.29919
📉 Trade Setup & Plan
🅰️ Primary Bias: Bearish Rejection from Supply
🔹 Scenario 1: Ideal Short Setup
Entry: Around current price (~1.30824) or after a retest of the 1.31000–1.31300 zone.
TP1: 1.30380 (first demand zone)
TP2: 1.29919 (second demand zone)
TP3 (extension): Below 1.29000 if momentum continues
SL: Above 1.31300 (to avoid fakeouts in supply)
🧩 Reasoning:
Price failed to break above supply with strong rejection wicks.
Break of structure + liquidity taken above local highs = possible start of bearish leg.
🔹 Scenario 2: Pullback Before Continuation Lower
Wait for Break of 1.30380, then look for pullback entries (break & retest).
Entry: On bearish confirmation after price retests 1.30380 zone from below.
TP: 1.29919, and if broken, continue to trail toward 1.2900s
✅ Extra Notes
Watch for rejection patterns (e.g., pin bars, engulfing candles) on the 15M or 30M to confirm entries.
Avoid entries during high-impact news, especially UK or US CPI, interest rate decisions, or NFP.
Manage risk wisely: Max 1-2% per trade.
Previous Trend: Strong bullish move after a long bearish trend.
Current Behavior: Price has entered a higher-timeframe supply zone (highlighted in green) and is showing signs of rejection.
Supply Zones:
Major Supply: 1.31750 – 1.32000
Minor Supply: 1.31000 – 1.31300
Demand Zones:
First Demand Zone: ~1.30380
Second Demand Zone: ~1.29919
📉 Trade Setup & Plan
🅰️ Primary Bias: Bearish Rejection from Supply
🔹 Scenario 1: Ideal Short Setup
Entry: Around current price (~1.30824) or after a retest of the 1.31000–1.31300 zone.
TP1: 1.30380 (first demand zone)
TP2: 1.29919 (second demand zone)
TP3 (extension): Below 1.29000 if momentum continues
SL: Above 1.31300 (to avoid fakeouts in supply)
🧩 Reasoning:
Price failed to break above supply with strong rejection wicks.
Break of structure + liquidity taken above local highs = possible start of bearish leg.
🔹 Scenario 2: Pullback Before Continuation Lower
Wait for Break of 1.30380, then look for pullback entries (break & retest).
Entry: On bearish confirmation after price retests 1.30380 zone from below.
TP: 1.29919, and if broken, continue to trail toward 1.2900s
✅ Extra Notes
Watch for rejection patterns (e.g., pin bars, engulfing candles) on the 15M or 30M to confirm entries.
Avoid entries during high-impact news, especially UK or US CPI, interest rate decisions, or NFP.
Manage risk wisely: Max 1-2% per trade.
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.