Resistance Zone: Clearly defined in red. Price has reacted multiple times from this area, indicating strong selling pressure.
Decision Point (DP): Price is currently sitting at a key decision point near the resistance zone. A breakout or rejection will dictate short-term direction.
Strong High: Needs to be taken out for bullish confirmation.
Weak Low: Vulnerable if price rejects the resistance and breaks below trendline.
Market Structure Highlights:
Break of Structure (BOS): Seen on the left side — marks bearish control initially.
Change of Character (CHoCH): Multiple CHoCHs observed during the upward move, signaling potential trend shift from bearish to bullish.
Trendline Support: Holding the bullish structure so far; price is respecting the ascending trendline, acting as dynamic support.
Scenarios at Decision Point:
Bullish Case:
Break and close above resistance and the Strong High.
Could signal continuation toward upper bullish targets (around 1.16600–1.16800).
Look for confirmation on lower timeframes for entries (retest + bullish engulfing or FVG fill).
Bearish Case:
Rejection from resistance + break of Trendline Support.
Opens path to bearish targets near 1.15800 and below (toward Weak Low).
A BOS to the downside would confirm bearish continuation.
Trading Tips:
Wait for clear confirmation (break and retest or price action signal) before entering.
Keep an eye on volume and momentum at the Decision Point.
Risk Management: SL below recent swing low (for longs) or swing high (for shorts).
Decision Point (DP): Price is currently sitting at a key decision point near the resistance zone. A breakout or rejection will dictate short-term direction.
Strong High: Needs to be taken out for bullish confirmation.
Weak Low: Vulnerable if price rejects the resistance and breaks below trendline.
Market Structure Highlights:
Break of Structure (BOS): Seen on the left side — marks bearish control initially.
Change of Character (CHoCH): Multiple CHoCHs observed during the upward move, signaling potential trend shift from bearish to bullish.
Trendline Support: Holding the bullish structure so far; price is respecting the ascending trendline, acting as dynamic support.
Scenarios at Decision Point:
Bullish Case:
Break and close above resistance and the Strong High.
Could signal continuation toward upper bullish targets (around 1.16600–1.16800).
Look for confirmation on lower timeframes for entries (retest + bullish engulfing or FVG fill).
Bearish Case:
Rejection from resistance + break of Trendline Support.
Opens path to bearish targets near 1.15800 and below (toward Weak Low).
A BOS to the downside would confirm bearish continuation.
Trading Tips:
Wait for clear confirmation (break and retest or price action signal) before entering.
Keep an eye on volume and momentum at the Decision Point.
Risk Management: SL below recent swing low (for longs) or swing high (for shorts).
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.