Bearish Divergence & Resistance Rejection
Possible Short Entry: Upon confirmation of rejection (e.g., bearish engulfing, wick rejections).
Short-Term Targets (TPs):
Potential Next Moves:
📉 Scalping Play: Short from resistance with TPs at 2928 & 2921.
📈 Long Opportunity: If resistance breaks, look for confirmation of bullish continuation.
- Price is reaching the strong resistance zone (2936 - 2940), near the ATH (2942.710).
- RSI shows bearish divergence, signaling potential weakness in momentum.
- A rejection from this resistance zone could trigger a short-term pullback.
Possible Short Entry: Upon confirmation of rejection (e.g., bearish engulfing, wick rejections).
Short-Term Targets (TPs):
- First TP: 2,928.762
- Second TP: 2,921.587
Potential Next Moves:
- Short-Term Correction – A rejection from 2936 - 2940 could lead to a brief pullback toward support levels (2928 - 2921).
- Bullish Continuation – If price holds at support, we could see a new impulsive move toward the ATH (2942.710) and beyond.
📉 Scalping Play: Short from resistance with TPs at 2928 & 2921.
📈 Long Opportunity: If resistance breaks, look for confirmation of bullish continuation.
Trade closed: target reached
TP 1 HitNote
🙂↔️🫡 
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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.