Market Structure & Bias:
The chart shows a clear downtrend with lower highs and lower lows.
Price recently retested a previous support zone and bounced back slightly.
The Sell Zone around 2893 – 2909 has been marked as a key area of interest for potential short positions.
Possible Scenarios
1️⃣ Bearish Bias Primary Setup
Price pushes into the Sell Zone 2893 – 2909 and forms a rejection
A strong bearish candle or break of lower timeframe structure confirms the sell setup
Entry In the Sell Zone after confirmation
Target 2812
Stop Loss Above 2909 to avoid liquidity grabs
2️⃣ Bullish Scenario Less Likely
If price breaks above the Sell Zone and holds above 2909 we could see a shift in market structure
In this case price may target 2919 – 2942 previous supply area
Conclusion
🔴 Bearish bias remains dominant unless price breaks and holds above 2909
🔴 Ideal trade setup Wait for rejection in the Sell Zone for a short position targeting 2812
🔴 If price fails to reach the Sell Zone and starts breaking below 2871 a continuation downward could begin early
📌 Stay patient wait for confirmations before entering trades 🚀
The chart shows a clear downtrend with lower highs and lower lows.
Price recently retested a previous support zone and bounced back slightly.
The Sell Zone around 2893 – 2909 has been marked as a key area of interest for potential short positions.
Possible Scenarios
1️⃣ Bearish Bias Primary Setup
Price pushes into the Sell Zone 2893 – 2909 and forms a rejection
A strong bearish candle or break of lower timeframe structure confirms the sell setup
Entry In the Sell Zone after confirmation
Target 2812
Stop Loss Above 2909 to avoid liquidity grabs
2️⃣ Bullish Scenario Less Likely
If price breaks above the Sell Zone and holds above 2909 we could see a shift in market structure
In this case price may target 2919 – 2942 previous supply area
Conclusion
🔴 Bearish bias remains dominant unless price breaks and holds above 2909
🔴 Ideal trade setup Wait for rejection in the Sell Zone for a short position targeting 2812
🔴 If price fails to reach the Sell Zone and starts breaking below 2871 a continuation downward could begin early
📌 Stay patient wait for confirmations before entering trades 🚀
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.