Bearish Rejection From Supply, Targets Below
Market Structure
Price previously made a blow-off top (sharp impulsive high, marked by the red arrow), followed by a strong bearish reversal, breaking short-term structure.
The subsequent bounce formed a lower high, confirming a bearish market structure shift on the intraday timeframe.
Key Zones
Gray zone (≈ 4,880–4,950): Former demand → now supply / resistance.
Price retested this area and rejected, which is classic bearish continuation behavior.
Blue zone (≈ 4,520–4,600): Major support / demand zone from the prior swing low.
Trade Idea Logic (as drawn)
Entry: Short on rejection from the gray supply zone after weak bullish retracement.
1st Target: Around 4,714 — interim support / liquidity pool.
2nd Target: The blue support zone — completion of the bearish leg and likely reaction area.
Price Action Clues
Retracement into resistance was corrective (overlapping candles), not impulsive → favors sellers.
Failure to reclaim the gray zone = sellers still in control.
Momentum points downward, aligning with the projected path.
Invalidation
A clean 45-min close and hold above the gray supply zone would weaken the bearish bias and suggest deeper consolidation or reversal.
Short
