Bearish Rejection from Supply Zone | Smart Money Concept & Fibon
Market Structure: Strong bullish move reaching a key resistance zone.
Supply Zone: Price has entered a strong supply area (highlighted in red) and is showing rejection.
Fibonacci Confluence: The rejection aligns with the 0.5 Fibonacci retracement level (2,878.218), confirming a potential reversal.
Entry: Short position initiated at the supply zone rejection.
Stop Loss (SL): Placed above the supply zone to avoid fakeouts.
Take Profit (TP): Aiming for the lower demand zone (green area).
Confirmation: Bearish candle forming at resistance, indicating selling pressure.
📝 Conclusion:
A potential short trade setup based on Smart Money Concepts (SMC) + Fibonacci retracement. If price continues rejecting this zone, further downside is expected toward the demand area.
Supply Zone: Price has entered a strong supply area (highlighted in red) and is showing rejection.
Fibonacci Confluence: The rejection aligns with the 0.5 Fibonacci retracement level (2,878.218), confirming a potential reversal.
Entry: Short position initiated at the supply zone rejection.
Stop Loss (SL): Placed above the supply zone to avoid fakeouts.
Take Profit (TP): Aiming for the lower demand zone (green area).
Confirmation: Bearish candle forming at resistance, indicating selling pressure.
📝 Conclusion:
A potential short trade setup based on Smart Money Concepts (SMC) + Fibonacci retracement. If price continues rejecting this zone, further downside is expected toward the demand area.
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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.