1. Trendline Break: - A potential break below the upward trendline indicates bearish momentum.
2. Supply Zone: - The price is trading within a highlighted supply zone.
3. Short Trade Setup: - A short position will be active after breakdown, with the following targets and stop-loss: - Stop-Loss: Above 157.440 - Target 1: 156.76 - Target 2: 156.493 - Target 3: 156.100
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Trading Scenarios:
1. Bearish Continuation: - If the price sustains below 157.030, bearish momentum is likely to accelerate toward 156.100.
2. Invalidation of Bearish Setup: - A move above 157.6 would invalidate this bearish setup, signaling a potential bullish reversal.
This trade setup is in line with bearish market structure, but closely monitor price action around support levels and trailing stop-loss adjustments as the trade progresses.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Always conduct your own research and consult a financial advisor before making investment decisions. Trade responsibly.
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