The recent rejection from the upper zone created a corrective structure, and price is now retesting the previous demand region. If this area fails to hold, a deeper correction toward the next liquidity zone is likely. The stop-loss is placed above the recent consolidation, targeting a continuation move in line with the current short-term bearish momentum.
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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.
