🔍 Market Structure
Overall higher-timeframe trend is bullish (clear impulsive move up).
Price was moving inside an ascending channel (green trendlines).
Recently, price broke down from the channel → first sign of weakness.
📉 What Just Happened
Strong rejection from the upper supply zone (~94,300–94,600).
Price failed to hold the mid supply / flip zone (~93,400–93,600).
A sharp impulsive bearish candle confirms distribution → markdown.
Current move looks like liquidity sweep + stop hunt of late longs.
🟥 Key Resistance Zones (Sell Areas)
94,300 – 94,600
Major supply
Strong rejection earlier
Ideal short area if revisited
93,400 – 93,600
Previous support → now resistance
Likely pullback target before continuation down
🟩 Key Support Zones (Buy / Reaction Areas)
91,200 – 91,400 (Green zone)
Strong demand zone
Previous consolidation base
High probability bounce or relief rally
Below 91,000
If this breaks → trend changes to bearish on 1H
Expect faster downside expansion
📌 Expected Scenarios
🔵 Scenario 1 (High Probability)
Price pulls back to 93,300–93,600
Gets rejected
Continues down to 91,200 demand
✔ Matches your dotted projection
🔴 Scenario 2 (Bearish Continuation)
No pullback
Direct drop into 91,200
Weak bounce → breakdown
Opens path to 90,000–89,600
🟢 Scenario 3 (Bull Recovery – Lower Probability)
Strong reclaim above 93,600
Hold inside channel again
Retest 94,400 supply
⚠ Needs strong volume & acceptance
🧠 Trade Mindset (Important)
Do NOT long in the middle (92,200–93,200 = chop zone)
Best trades:
Short at resistance
Long only at demand with confirmation
Trend is transitioning from bullish → corrective
🔑 Summary
Structure: Bullish → Distribution → Pullback
Bias: Short-term bearish / corrective
Key level to watch: 91,200
Reaction there will decide trend continuation or reversal
Overall higher-timeframe trend is bullish (clear impulsive move up).
Price was moving inside an ascending channel (green trendlines).
Recently, price broke down from the channel → first sign of weakness.
📉 What Just Happened
Strong rejection from the upper supply zone (~94,300–94,600).
Price failed to hold the mid supply / flip zone (~93,400–93,600).
A sharp impulsive bearish candle confirms distribution → markdown.
Current move looks like liquidity sweep + stop hunt of late longs.
🟥 Key Resistance Zones (Sell Areas)
94,300 – 94,600
Major supply
Strong rejection earlier
Ideal short area if revisited
93,400 – 93,600
Previous support → now resistance
Likely pullback target before continuation down
🟩 Key Support Zones (Buy / Reaction Areas)
91,200 – 91,400 (Green zone)
Strong demand zone
Previous consolidation base
High probability bounce or relief rally
Below 91,000
If this breaks → trend changes to bearish on 1H
Expect faster downside expansion
📌 Expected Scenarios
🔵 Scenario 1 (High Probability)
Price pulls back to 93,300–93,600
Gets rejected
Continues down to 91,200 demand
✔ Matches your dotted projection
🔴 Scenario 2 (Bearish Continuation)
No pullback
Direct drop into 91,200
Weak bounce → breakdown
Opens path to 90,000–89,600
🟢 Scenario 3 (Bull Recovery – Lower Probability)
Strong reclaim above 93,600
Hold inside channel again
Retest 94,400 supply
⚠ Needs strong volume & acceptance
🧠 Trade Mindset (Important)
Do NOT long in the middle (92,200–93,200 = chop zone)
Best trades:
Short at resistance
Long only at demand with confirmation
Trend is transitioning from bullish → corrective
🔑 Summary
Structure: Bullish → Distribution → Pullback
Bias: Short-term bearish / corrective
Key level to watch: 91,200
Reaction there will decide trend continuation or reversal
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.