Context:
On H1 and Daily, the market confirmed breakout and acceptance, keeping the bullish structure intact.
On the Weekly chart, however, the breakout attempt was rejected, with price closing inside the wick → signaling lack of institutional commitment above current highs.
Key Levels:
Demand H1 (24.775–24.825): first zone to monitor. A clean break here implies a short-term structural shift.
Demand Daily (24.400–24.600): already tested once. If buyers fail to defend, expect a deeper retracement.
Weekly Demand (23.700–24.000): key origin of the last breakout – loss of this zone opens the door to 23.000 handle, aligning with a larger-scale correction.
Flow Insight:
Short-term sellers may gain control if H1 demand collapses.
Daily absorption will determine whether we stay in bullish continuation or enter a weekly retracement phase.
Trader’s Note:
For day traders & scalpers: if H1 demand gives way early in the week, expect a bearish bias throughout the week.
If the Daily demand also fails, anticipate 1–2 weeks of short structure, aligning with a broader correction into weekly demand zones.
⚠️ Risk Approach: Prefer acceptance of stop-loss if positioned at H1 demand. Let the market prove defense at Daily demand before committing size.
On H1 and Daily, the market confirmed breakout and acceptance, keeping the bullish structure intact.
On the Weekly chart, however, the breakout attempt was rejected, with price closing inside the wick → signaling lack of institutional commitment above current highs.
Key Levels:
Demand H1 (24.775–24.825): first zone to monitor. A clean break here implies a short-term structural shift.
Demand Daily (24.400–24.600): already tested once. If buyers fail to defend, expect a deeper retracement.
Weekly Demand (23.700–24.000): key origin of the last breakout – loss of this zone opens the door to 23.000 handle, aligning with a larger-scale correction.
Flow Insight:
Short-term sellers may gain control if H1 demand collapses.
Daily absorption will determine whether we stay in bullish continuation or enter a weekly retracement phase.
Trader’s Note:
For day traders & scalpers: if H1 demand gives way early in the week, expect a bearish bias throughout the week.
If the Daily demand also fails, anticipate 1–2 weeks of short structure, aligning with a broader correction into weekly demand zones.
⚠️ Risk Approach: Prefer acceptance of stop-loss if positioned at H1 demand. Let the market prove defense at Daily demand before committing size.
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.