Setup Description:
Price is approaching a major resistance zone between 147.200 – 147.530, which previously acted as a strong rejection area. Market structure shows signs of a lower high, indicating potential bearish continuation. No clear breakout above resistance, suggesting bulls are losing momentum.
Entry Reasoning:
Previous strong rejection from 147.530
Bearish market structure (lower high)
Potential for large risk-reward if price rejects this zone
Clean traffic down to next support zones
Price is approaching a major resistance zone between 147.200 – 147.530, which previously acted as a strong rejection area. Market structure shows signs of a lower high, indicating potential bearish continuation. No clear breakout above resistance, suggesting bulls are losing momentum.
Entry Reasoning:
Previous strong rejection from 147.530
Bearish market structure (lower high)
Potential for large risk-reward if price rejects this zone
Clean traffic down to next support zones
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.