Market Structure
- The chart shows a strong impulsive rally, followed by sideways consolidation.
- Price is trading inside a supply/demand zone (the blue rectangle).
- Short-term structure is neutral with a slight bullish bias because buyers continue defending the lower part of the range.
- The best trade is to wait for a breakout or breakdown, rather than entering in the middle of the range.
Important Levels
Resistance
- 64,900-64,950 (major intraday resistance)
- 65,150
- 65,450
Support
- 64,650
- 64,500
- 64,250
BUY Setup (Higher Probability)
Entry
- Buy only if a 15-minute candle closes above 64,920-64,950
- Wait for a retest if possible.
Stop Loss
- 64,760
Targets
- Target 1 : 65,150
- Target 2 : 65,350
- Target 3 : 65,550
Risk-Reward: approximately 1:3
SELL Setup
Only if price breaks support.
Entry
- Sell below 64,620
Stop Loss
- 64,780
Targets
- Target 1 : 64,400
- Target 2 : 64,180
- Target 3 : 63,900
Current Bias
If I had to choose one direction, I would currently prefer:
BUY only after a confirmed breakout above 64,920-64,950.
No comments:
Post a Comment