1. Key Price Levels
Type
Price Level
Description
Primary Support
~4,030 - 4,040
The most recent swing low (Fib 0) and the primary uptrend line (Lower diagonal line). This level must hold for the bullish scenario to continue.
Key Resistance Zone (Confluence)
~4,135 - 4,150
This is the most critical area, where: (A) the 0.618 Fibonacci level (~4,142) and (B) the main downtrend line (Upper diagonal line) converge.
Uptrend Target
~4,210
The nearest swing high (Fib 1).
2. Primary Trade Setups
The scenario pre-drawn on the chart (Solid blue line) is the main scenario to monitor.
Scenario A: Short-term Sell (Short Setup)
This setup is ideal for trading the "pullback to resistance for a continuation of the drop."
Entry Condition: Wait for the price to recover up to the Key Resistance Confluence Zone (~4,135 - 4,150).
Confirmation: Look for bearish reversal signals (such as Pin Bar, Bearish Engulfing, Double Top on smaller timeframes like H1) in this area.
Entry: After a bearish reversal confirmation.
Stop Loss (SL): Place just above the Key Resistance Zone (e.g., above 4,160).
Target (Take Profit - TP): ~4,080 (Fib 0.5) or ~4,040 (Primary Support).
Scenario B: Buy on Rebound (Long Setup)
Applicable if the price pulls back to support before attempting a breakthrough.
Entry Condition: Wait for the price to pull back to the Primary Support (~4,030 - 4,040).
Confirmation: Look for bullish reversal signals (such as Hammer, Bullish Engulfing) in this area.
Entry: After a bullish reversal confirmation.
Stop Loss (SL): Place just below the Primary Support (e.g., below 4,020).
Target (Take Profit - TP): Key Resistance Confluence Zone (~4,135 - 4,150).
3. Breakthrough Scenario (LONG)
This scenario will be activated if the price completely breaks the current bearish structure.
Entry Condition: Price closes strongly above and holds above the Key Resistance Confluence Zone (~4,150).
Entry: Buy when the price successfully retests the 4,150 area (old resistance becomes new support) or buy on the momentum of the breakout.
Target (Take Profit - TP): ~4,210 (Swing High).
Note: If the price breaks upwards, the short-term downtrend is invalidated.
Type
Price Level
Description
Primary Support
~4,030 - 4,040
The most recent swing low (Fib 0) and the primary uptrend line (Lower diagonal line). This level must hold for the bullish scenario to continue.
Key Resistance Zone (Confluence)
~4,135 - 4,150
This is the most critical area, where: (A) the 0.618 Fibonacci level (~4,142) and (B) the main downtrend line (Upper diagonal line) converge.
Uptrend Target
~4,210
The nearest swing high (Fib 1).
2. Primary Trade Setups
The scenario pre-drawn on the chart (Solid blue line) is the main scenario to monitor.
Scenario A: Short-term Sell (Short Setup)
This setup is ideal for trading the "pullback to resistance for a continuation of the drop."
Entry Condition: Wait for the price to recover up to the Key Resistance Confluence Zone (~4,135 - 4,150).
Confirmation: Look for bearish reversal signals (such as Pin Bar, Bearish Engulfing, Double Top on smaller timeframes like H1) in this area.
Entry: After a bearish reversal confirmation.
Stop Loss (SL): Place just above the Key Resistance Zone (e.g., above 4,160).
Target (Take Profit - TP): ~4,080 (Fib 0.5) or ~4,040 (Primary Support).
Scenario B: Buy on Rebound (Long Setup)
Applicable if the price pulls back to support before attempting a breakthrough.
Entry Condition: Wait for the price to pull back to the Primary Support (~4,030 - 4,040).
Confirmation: Look for bullish reversal signals (such as Hammer, Bullish Engulfing) in this area.
Entry: After a bullish reversal confirmation.
Stop Loss (SL): Place just below the Primary Support (e.g., below 4,020).
Target (Take Profit - TP): Key Resistance Confluence Zone (~4,135 - 4,150).
3. Breakthrough Scenario (LONG)
This scenario will be activated if the price completely breaks the current bearish structure.
Entry Condition: Price closes strongly above and holds above the Key Resistance Confluence Zone (~4,150).
Entry: Buy when the price successfully retests the 4,150 area (old resistance becomes new support) or buy on the momentum of the breakout.
Target (Take Profit - TP): ~4,210 (Swing High).
Note: If the price breaks upwards, the short-term downtrend is invalidated.
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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.
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.