1. Identified Key Levels
Type Price Level (Approx.) Significance
Major Resistance 22,700 - 22,800 Previous support turned resistance; strong rejection possible.
Minor Resistance 22,400 - 22,500 Short-term bounce zone; potential sell-off area.
Current Price Zone 22,100 - 22,200 Market hovering near key support; decision point.
First Major Support 21,800 - 21,900 Next critical level; breakdown could accelerate selling.
Second Major Support 21,500 - 21,600 Deeper demand zone; last line of defense before more downside.
2. Trading Strategies Based on Key Levels
Bearish Continuation Trade (Higher Probability)
• Entry: Look for a pullback to 22,400 - 22,500 for short positions.
• Stop-Loss: Above 22,700 to avoid getting trapped in a fakeout.
• Take-Profit 1: 21,900 - 22,000 (First major support).
• Take-Profit 2: 21,500 (Next strong support).
Bullish Relief Rally (Lower Probability)
• Entry: If price forms a bullish engulfing candle + high volume around 21,800 - 22,000.
• Stop-Loss: Below 21,600 to limit downside risk.
• Take-Profit 1: 22,400 - 22,500 (Short-term bounce area).
• Take-Profit 2: 22,700 (Stronger resistance).
3. Risk Management & Confirmation Signals
• Bearish Confirmation:
• Price rejection at resistance (22,400-22,500).
• Low bullish volume on pullbacks.
• Large red candles breaking support.
• Bullish Confirmation:
• Strong reversal candle at key support.
• Increase in buying volume.
• Break above 22,400 with momentum.
Final Outlook
• Primary Bias: Bearish → Look for short opportunities on pullbacks.
• Secondary Bias: Bullish only if price shows strong reversal near 21,800 - 21,900.
Type Price Level (Approx.) Significance
Major Resistance 22,700 - 22,800 Previous support turned resistance; strong rejection possible.
Minor Resistance 22,400 - 22,500 Short-term bounce zone; potential sell-off area.
Current Price Zone 22,100 - 22,200 Market hovering near key support; decision point.
First Major Support 21,800 - 21,900 Next critical level; breakdown could accelerate selling.
Second Major Support 21,500 - 21,600 Deeper demand zone; last line of defense before more downside.
2. Trading Strategies Based on Key Levels
Bearish Continuation Trade (Higher Probability)
• Entry: Look for a pullback to 22,400 - 22,500 for short positions.
• Stop-Loss: Above 22,700 to avoid getting trapped in a fakeout.
• Take-Profit 1: 21,900 - 22,000 (First major support).
• Take-Profit 2: 21,500 (Next strong support).
Bullish Relief Rally (Lower Probability)
• Entry: If price forms a bullish engulfing candle + high volume around 21,800 - 22,000.
• Stop-Loss: Below 21,600 to limit downside risk.
• Take-Profit 1: 22,400 - 22,500 (Short-term bounce area).
• Take-Profit 2: 22,700 (Stronger resistance).
3. Risk Management & Confirmation Signals
• Bearish Confirmation:
• Price rejection at resistance (22,400-22,500).
• Low bullish volume on pullbacks.
• Large red candles breaking support.
• Bullish Confirmation:
• Strong reversal candle at key support.
• Increase in buying volume.
• Break above 22,400 with momentum.
Final Outlook
• Primary Bias: Bearish → Look for short opportunities on pullbacks.
• Secondary Bias: Bullish only if price shows strong reversal near 21,800 - 21,900.
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.