📌 Key Observations:
🔴 Supply Zone:
0.89180 – 0.89489 (approx)
Marked by the olive green box and red SL zone.
Price previously touched this zone → strong rejection → created a valid Supply Zone.
🔹Resistance Flip at 0.88800:
Clearly respected on retest after the drop.
Price came back to retest this area and failed to close above it — confirming it as a strong resistance (RTO – Return to Origin).
📉 Bearish Market Structure:
After rejecting from supply, price made lower highs and lower lows.
The recent consolidation near 0.8840–0.8850 indicates potential for another leg down.
✅ Trade Setup (Shown on Chart):
Sell Entry: Around 0.88400–0.88500
SL: Just above 0.89489 (above the last supply rejection wick).
TP: Looks to be around 0.8718 or further, possibly targeting a FVG fill or demand zone.
⚖️ Confluences Supporting the Short:
Technical Element Status
Supply zone rejection ✅ Confirmed
Bearish BOS (Break of Structure) ✅ Done
RTO at resistance ✅ Valid
Consolidation before potential drop ✅ Present
Risk:Reward ✅ Appears to be 1:4+
⚠️ Watch Out:
Agar price breaks and holds above 0.8890–0.8910, then bearish bias weaken ho sakta hai.
Aggressive NY or economic news can also spike price for liquidity grab.
🔴 Supply Zone:
0.89180 – 0.89489 (approx)
Marked by the olive green box and red SL zone.
Price previously touched this zone → strong rejection → created a valid Supply Zone.
🔹Resistance Flip at 0.88800:
Clearly respected on retest after the drop.
Price came back to retest this area and failed to close above it — confirming it as a strong resistance (RTO – Return to Origin).
📉 Bearish Market Structure:
After rejecting from supply, price made lower highs and lower lows.
The recent consolidation near 0.8840–0.8850 indicates potential for another leg down.
✅ Trade Setup (Shown on Chart):
Sell Entry: Around 0.88400–0.88500
SL: Just above 0.89489 (above the last supply rejection wick).
TP: Looks to be around 0.8718 or further, possibly targeting a FVG fill or demand zone.
⚖️ Confluences Supporting the Short:
Technical Element Status
Supply zone rejection ✅ Confirmed
Bearish BOS (Break of Structure) ✅ Done
RTO at resistance ✅ Valid
Consolidation before potential drop ✅ Present
Risk:Reward ✅ Appears to be 1:4+
⚠️ Watch Out:
Agar price breaks and holds above 0.8890–0.8910, then bearish bias weaken ho sakta hai.
Aggressive NY or economic news can also spike price for liquidity grab.
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.