BPCL – Break Of Structure & Order-block Retest | Bearish Setup
📊 BPCL (1H) –
After a prolonged sideways move inside a Rectangle pattern, BPCL has shown a clear Break of Structure (BOS) to the downside. This indicates that buyers lost control and sellers are currently dominant.
🔎 Key Observations
Rectangle Range: Price was consolidating between ₹330 – ₹308 for several sessions.
BOS Confirmation: Breakdown occurred below ₹310, validating a bearish bias.
Orderblock Retest: Price is now retracing back to the supply zone (₹310–₹315). This zone overlaps with the last bullish candles before the breakdown, making it a high-probability rejection area.
Volume Profile: Noticeable increase in volume during the breakdown, which further supports bearish strength.
📉 Trading Plan
Entry Zone: Current Market price 308
Stop Loss: Close above 315
Targets:
T1: ₹300 (psychological round level)
T2: ₹292
T3: ₹285 (major support level)
⚠️ Risk Management
Always manage position sizing. The stop loss is tight compared to potential reward, giving a favorable Risk:Reward ratio of ~1:3.
📌 Invalidation:
If BPCL sustains above ₹315 with strong bullish candles, the bearish setup is invalid, and we may again see consolidation or reversal.
After a prolonged sideways move inside a Rectangle pattern, BPCL has shown a clear Break of Structure (BOS) to the downside. This indicates that buyers lost control and sellers are currently dominant.
🔎 Key Observations
Rectangle Range: Price was consolidating between ₹330 – ₹308 for several sessions.
BOS Confirmation: Breakdown occurred below ₹310, validating a bearish bias.
Orderblock Retest: Price is now retracing back to the supply zone (₹310–₹315). This zone overlaps with the last bullish candles before the breakdown, making it a high-probability rejection area.
Volume Profile: Noticeable increase in volume during the breakdown, which further supports bearish strength.
📉 Trading Plan
Entry Zone: Current Market price 308
Stop Loss: Close above 315
Targets:
T1: ₹300 (psychological round level)
T2: ₹292
T3: ₹285 (major support level)
⚠️ Risk Management
Always manage position sizing. The stop loss is tight compared to potential reward, giving a favorable Risk:Reward ratio of ~1:3.
📌 Invalidation:
If BPCL sustains above ₹315 with strong bullish candles, the bearish setup is invalid, and we may again see consolidation or reversal.
Trade closed: stop reached
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.