Overview:
In this chart, we’re observing a classic price action setup, highlighting a potential bearish continuation after a structure break and failed bullish momentum.
Key Observations:
Break of Structure (BOS): Price broke below the consolidation zone, signaling a shift in momentum.
Consolidation Zone: From April 24–May 1, the price ranged within a well-defined box, forming a base before the breakout.
Trendline Break & Retest: A descending trendline was broken, and price briefly rallied, reaching the support zone turned resistance.
Support Turned Resistance: The area around 3,356 - 3,383 acted as a former support zone and is now functioning as resistance. This zone aligns with a possible liquidity grab before a continuation down.
Bearish Scenario:
If price fails to reclaim the resistance zone and closes below 3,323, a continuation lower is highly probable.
Price may form lower highs and lower lows, heading toward the next major supports:
3,275.909
3,253.174
Final target: 3,226.252 (marked with a green arrow).
This move aligns with the bearish trend structure, and a breakdown below 3,275 would confirm increased selling pressure.
Conclusion & Trade Idea:
Bias: Bearish
Entry Idea: Look for short entries below 3,323 after rejection from the resistance zone.
Target Zones: 3,275 → 3,253 → 3,226[/
Invalidation: Bullish break above 3,383
Watch for price reactions at key levels and manage risk accordingly.
In this chart, we’re observing a classic price action setup, highlighting a potential bearish continuation after a structure break and failed bullish momentum.
Key Observations:
Break of Structure (BOS): Price broke below the consolidation zone, signaling a shift in momentum.
Consolidation Zone: From April 24–May 1, the price ranged within a well-defined box, forming a base before the breakout.
Trendline Break & Retest: A descending trendline was broken, and price briefly rallied, reaching the support zone turned resistance.
Support Turned Resistance: The area around 3,356 - 3,383 acted as a former support zone and is now functioning as resistance. This zone aligns with a possible liquidity grab before a continuation down.
Bearish Scenario:
If price fails to reclaim the resistance zone and closes below 3,323, a continuation lower is highly probable.
Price may form lower highs and lower lows, heading toward the next major supports:
3,275.909
3,253.174
Final target: 3,226.252 (marked with a green arrow).
This move aligns with the bearish trend structure, and a breakdown below 3,275 would confirm increased selling pressure.
Conclusion & Trade Idea:
Bias: Bearish
Entry Idea: Look for short entries below 3,323 after rejection from the resistance zone.
Target Zones: 3,275 → 3,253 → 3,226[/
Invalidation: Bullish break above 3,383
Watch for price reactions at key levels and manage risk accordingly.
🔥 Join Now for Free
t.me/JackMastermindGT
📢 Join My Telegram channel Daily Free Signals Vip Group available Daily Signals XAUUSD BTCUSD USOIL 3/4 confirm Join VIP Group Accuracy 85%+
🔥 Join Now for Free: t.me/JackMastermindGT
t.me/JackMastermindGT
📢 Join My Telegram channel Daily Free Signals Vip Group available Daily Signals XAUUSD BTCUSD USOIL 3/4 confirm Join VIP Group Accuracy 85%+
🔥 Join Now for Free: t.me/JackMastermindGT
Related publications
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.
🔥 Join Now for Free
t.me/JackMastermindGT
📢 Join My Telegram channel Daily Free Signals Vip Group available Daily Signals XAUUSD BTCUSD USOIL 3/4 confirm Join VIP Group Accuracy 85%+
🔥 Join Now for Free: t.me/JackMastermindGT
t.me/JackMastermindGT
📢 Join My Telegram channel Daily Free Signals Vip Group available Daily Signals XAUUSD BTCUSD USOIL 3/4 confirm Join VIP Group Accuracy 85%+
🔥 Join Now for Free: t.me/JackMastermindGT
Related publications
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.