Possible reversal of this bullish wave...(LOG)

25 Nis

Orange circles highlight repeated price rejection and the formed doji that suggests a slowdown in a bullish wave and potential reversal. The confluence of the descending trendline and horizontal supply/resistance zone creates a high-probability reversal or breakout from this triangle.

If the price rejects again from the current supply zone and triangle, short setup toward the Fibonacci retracements or demand zones (18300 and below).

If the price breaks above the descending trendline, bullish continuation will likely target 20,000+ (Swing H).

Trend remains down.

Entry 19300
TP 18300 below
Target 14k.

1 May

İşlem aktif

The break of the triangle structure and descending line will take us to these levels. The first box has been reached, and I expect a strong reversal from the golden pocket.

2 May

Not

Strong rejection of the golden pocket. I expect the test of 78.6% (19479) later in the afternoon. RSI is at neutral, although forming a bearish divergence. Short is running from below 61.8% (19965).