📉 Technical Overview:
Price broke down from a rising channel, signaling a potential reversal.
A bearish flag/descending triangle is forming, showing continued selling pressure.
Multiple rejections at the trendline and EMAs confirm bearish sentiment.
Price is trading below key EMAs and below the 200 MA → bearish confirmation.
A minor support has been broken several times → weak buyer defense.
📍 Trade Plan:
Stop Loss: 3220 (130 pips)
Take Profit: 3176 (gap fill target)
RR: 2.3
✅ Summary: Structure break + lower highs & lows + rejection at resistance suggests price may continue falling toward the 3176 area to close the gap.
Price broke down from a rising channel, signaling a potential reversal.
A bearish flag/descending triangle is forming, showing continued selling pressure.
Multiple rejections at the trendline and EMAs confirm bearish sentiment.
Price is trading below key EMAs and below the 200 MA → bearish confirmation.
A minor support has been broken several times → weak buyer defense.
📍 Trade Plan:
Stop Loss: 3220 (130 pips)
Take Profit: 3176 (gap fill target)
RR: 2.3
✅ Summary: Structure break + lower highs & lows + rejection at resistance suggests price may continue falling toward the 3176 area to close the gap.
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.