Chart Analysis:
Key Resistance Zone: Price reaches a previous resistance level where selling pressure has emerged before.
Bearish Rejection: The price attempts to break above resistance but fails, forming a strong rejection candle.
Aggressive Sellers: The long upper wick and bearish close indicate sellers stepping in aggressively.
Market Structure: The price fails to create a new higher high, signaling potential downside movement.
Momentum Shift: After rejection, the market shows signs of shifting downward, confirming a potential sell entry.
Trade Setup:
📉 Entry: Sell after a confirmed bearish rejection.
🎯 Target: Next major support level.
📍 Stop-Loss: Above the rejection wick to avoid false breakouts.
Key Resistance Zone: Price reaches a previous resistance level where selling pressure has emerged before.
Bearish Rejection: The price attempts to break above resistance but fails, forming a strong rejection candle.
Aggressive Sellers: The long upper wick and bearish close indicate sellers stepping in aggressively.
Market Structure: The price fails to create a new higher high, signaling potential downside movement.
Momentum Shift: After rejection, the market shows signs of shifting downward, confirming a potential sell entry.
Trade Setup:
📉 Entry: Sell after a confirmed bearish rejection.
🎯 Target: Next major support level.
📍 Stop-Loss: Above the rejection wick to avoid false breakouts.
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Website wave-trader.com
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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.
For Training visit.
Website wave-trader.com
Website techtradingacademy.com
Slack: wavetraders.slack.com
Telegram: t.me/Wavetraders
X: twitter.com/Wave__Trader
FB: facebook.com/WTimran
Website wave-trader.com
Website techtradingacademy.com
Slack: wavetraders.slack.com
Telegram: t.me/Wavetraders
X: twitter.com/Wave__Trader
FB: facebook.com/WTimran
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.