The market was previously moving upward after a Break of Structure (BoS). However, it has now formed a Market Structure Shift (MSS) and has moved downwards. At present, the price is consolidating near a support zone. If the market attempts to move upward from this point but faces rejection from the nearby bullish Fair Value Gap (FVG), there is a high probability that it may drop further to lower levels. Traders should closely monitor price action at this support zone to anticipate whether a genuine bullish continuation occurs or if the rejection triggers another bearish leg.
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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.