1️⃣ Bearish Rejection at Resistance – Price attempted to break higher but faced strong rejection, forming a wick at the top, signaling selling pressure.
2️⃣ Break & Retest Confirmation – The previous support level has turned into resistance, aligning with a classic sell setup.
3️⃣ Risk-Reward Optimization – Stop-loss is strategically placed above the rejection zone, while the target aligns with the next key support level for a favorable risk-to-reward ratio.
4️⃣ Lower High Formation – Market structure suggests a bearish continuation, reinforcing the sell bias.
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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.