Hi!
Bullish Scenario
A bullish continuation becomes likely only if price breaks and closes above the $2.12–$2.18 S&D zone.
If that happens:
Conclusion:
Break S&D -> Long toward the descending trendline.
Bearish Scenario
If price rejects from the S&D zone and fails to reclaim $2.12–$2.18:
Bullish Scenario
A bullish continuation becomes likely only if price breaks and closes above the $2.12–$2.18 S&D zone.
If that happens:
- Buyers regain control
- A retest could confirm support
- Next target -> descending trendline at $2.35–$2.45
Conclusion:
Break S&D -> Long toward the descending trendline.
Bearish Scenario
If price rejects from the S&D zone and fails to reclaim $2.12–$2.18:
- Momentum shifts back to the downside
- Price may retest the $1.90–$1.92 zone, the most recent low
- Further breakdown could lead to new cycle weakness
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🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Tiktok: tiktok.com/@melikatrader94?is_from_webapp=1&sender_device=pc
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Tiktok: tiktok.com/@melikatrader94?is_from_webapp=1&sender_device=pc
Related publications
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.
