Context:
Price just rejected off local range high near $148 — a key resistance that has held several times historically. We’re seeing initial signs of weakness after a strong rally, with price failing to hold above resistance and beginning to break minor structure.
Setup Details:
Entry: ~$146.20
Stop Loss: ~$148.35 (above recent high)
Target: ~$141.00 (range low + demand pocket)
Risk/Reward: ~2.38R
Trade Idea:
This is a classic range play — short from top of the range, targeting the base. Momentum is fading near resistance and we have a clean invalidation just above. Price structure suggests lower highs are forming, and any further weakness should push us back into the mid-to-lower part of the range.
Price just rejected off local range high near $148 — a key resistance that has held several times historically. We’re seeing initial signs of weakness after a strong rally, with price failing to hold above resistance and beginning to break minor structure.
Setup Details:
Entry: ~$146.20
Stop Loss: ~$148.35 (above recent high)
Target: ~$141.00 (range low + demand pocket)
Risk/Reward: ~2.38R
Trade Idea:
This is a classic range play — short from top of the range, targeting the base. Momentum is fading near resistance and we have a clean invalidation just above. Price structure suggests lower highs are forming, and any further weakness should push us back into the mid-to-lower part of the range.
May the Green Spirit be with You ❇️💚
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
May the Green Spirit be with You ❇️💚
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.