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After reaching that high, it sharply reversed into a strong downtrend, dropping below 4250.
The market is now consolidating sideways between roughly 4240 – 4270, indicating indecision after the drop.
🔍 Key Levels
Resistance Zone: 4266 – 4275
Support Zone: 4230 – 4240
Major Previous High: 4378
🧭 Trading Signal Idea (Short-Term H1)
🟢 BUY Signal (If Breaks Resistance)
Entry: Above 4275 (clear bullish candle close on H1)
Take Profit (TP): 4300 – 4310
Stop Loss (SL): Below 4245
This would signal momentum returning upward after consolidation.
🔴 SELL Signal (If Breaks Support)
Entry: Below 4230 (clear bearish candle close on H1)
Take Profit (TP): 4205 – 4195
Stop Loss (SL): Above 4260
This would signal continuation of the downtrend after the pullback.
⚠️ Note
Wait for a clean breakout candle (with volume and body close outside the range), not just a wick.
Avoid entering in the middle of the range (like 4240 – 4260) — that’s chop/consolidation.
Sell Setup @ 4235
TP: 4225. SL: 4243
Reasoning:
If price breaks below support, downside continuation toward demand zone
TP: 4225. SL: 4243
Reasoning:
If price breaks below support, downside continuation toward demand zone
