The price is currently reacting from a well-defined supply zone around 0.1150–0.1203 after forming multiple rejections near the highs. This area aligns with prior resistance, which could now serve as a pivot point for a short opportunity.
Key Technical Highlights:
Price made a strong move up but failed to break and hold above 0.1203.
A minor range has formed, signaling distribution characteristics.
The recent wick into supply followed by a bearish rejection indicates possible exhaustion.
Trade Setup:
Entry Zone: 0.115 (within supply)
Stoploss: Above 0.1205
Targets:
• TP1: 0.107
• TP2: 0.0995
• TP3: 0.0880
Watch for bearish confirmation before entering, as price is still testing the upper boundary of the range.
Key Technical Highlights:
Price made a strong move up but failed to break and hold above 0.1203.
A minor range has formed, signaling distribution characteristics.
The recent wick into supply followed by a bearish rejection indicates possible exhaustion.
Trade Setup:
Entry Zone: 0.115 (within supply)
Stoploss: Above 0.1205
Targets:
• TP1: 0.107
• TP2: 0.0995
• TP3: 0.0880
Watch for bearish confirmation before entering, as price is still testing the upper boundary of the range.
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.