🔍 Current Market Structure
Price: ~$104,674
Market Range: Between PDH (Previous Day High) ~$106,161 and PDL (Previous Day Low) ~$104,160
Consolidation Zone: Price is compressing just above a support zone (PDL/PWL) after a downtrend.
📈 Buy Setup (Long Position)
🔹 Entry Zone (Buy):
Around PDL / PWL (~$104,160–$104,674)
Confirmation: Bullish engulfing or CHoCH (Change of Character) indicating shift to bullish structure.
Support by:
Bollinger Bands lower band touch
RSI is near 40, suggesting potential oversold
MACD lines are converging → potential bullish crossover
🎯 Take Profit (TP) Targets:
PDH (~$106,161) – Conservative target
Premium Supply Zone / Weak High (~$110,000–$112,000) – Aggressive target
🛑 Stop Loss (SL):
Below PWL (~$103,500), or just under recent Equal Lows (EQL) for structure-based SL.
📉 Sell Setup (Short Position)
🔸 Entry Zone (Sell):
Premium Zone (~$110,000–$112,000)
Confirmation: Rejection from resistance with bearish CHoCH
Supported by:
Price entering overbought RSI territory
MACD bearish crossover
Weak High rejection
🎯 Take Profit (TP) Targets:
PDL / PWL (~$104,000) – Scalp TP
Major Demand Zone (~$94,000–$95,000) – Swing TP
🛑 Stop Loss (SL):
Above Premium Zone (~$113,000)
📊 Indicators Summary
Indicator Signal
RSI (40.13) Near oversold → potential for bounce
MACD Close to crossing bullish, watch for confirmation
Bollinger Bands Price near lower band → potential support
Price Action Compression → potential breakout
✅ Suggested Strategy
Short-Term Traders (Scalping/Intraday): Look for long entry above $104,160 with TP near $106,100.
Swing Traders: Wait for breakout/rejection at $106,100 or $110,000 zone for a clearer trend direction.
Price: ~$104,674
Market Range: Between PDH (Previous Day High) ~$106,161 and PDL (Previous Day Low) ~$104,160
Consolidation Zone: Price is compressing just above a support zone (PDL/PWL) after a downtrend.
📈 Buy Setup (Long Position)
🔹 Entry Zone (Buy):
Around PDL / PWL (~$104,160–$104,674)
Confirmation: Bullish engulfing or CHoCH (Change of Character) indicating shift to bullish structure.
Support by:
Bollinger Bands lower band touch
RSI is near 40, suggesting potential oversold
MACD lines are converging → potential bullish crossover
🎯 Take Profit (TP) Targets:
PDH (~$106,161) – Conservative target
Premium Supply Zone / Weak High (~$110,000–$112,000) – Aggressive target
🛑 Stop Loss (SL):
Below PWL (~$103,500), or just under recent Equal Lows (EQL) for structure-based SL.
📉 Sell Setup (Short Position)
🔸 Entry Zone (Sell):
Premium Zone (~$110,000–$112,000)
Confirmation: Rejection from resistance with bearish CHoCH
Supported by:
Price entering overbought RSI territory
MACD bearish crossover
Weak High rejection
🎯 Take Profit (TP) Targets:
PDL / PWL (~$104,000) – Scalp TP
Major Demand Zone (~$94,000–$95,000) – Swing TP
🛑 Stop Loss (SL):
Above Premium Zone (~$113,000)
📊 Indicators Summary
Indicator Signal
RSI (40.13) Near oversold → potential for bounce
MACD Close to crossing bullish, watch for confirmation
Bollinger Bands Price near lower band → potential support
Price Action Compression → potential breakout
✅ Suggested Strategy
Short-Term Traders (Scalping/Intraday): Look for long entry above $104,160 with TP near $106,100.
Swing Traders: Wait for breakout/rejection at $106,100 or $110,000 zone for a clearer trend direction.
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.