A bearish ChoCH is visible, signaling a shift in market structure from bullish to bearish, suggesting a potential downward continuation.
2. Key Levels:
The price has retraced into a supply zone (highlighted in red), which aligns with the bearish sentiment. This area acts as a strong resistance.
3. Liquidity Grab:
Before moving down, the price seems to have cleared liquidity by spiking into the supply zone. This would remove stop losses and trap buyers, allowing sellers to dominate.
4. Risk-Reward Setup:
The entry appears to be near the supply zone with stop-loss protection above it.
The target likely aligns with the next demand zone or weak low (indicated by the horizontal line around 2,586).
5. Momentum Confirmation:
The bearish candles following the ChoCH confirm selling pressure. This reinforces the idea of a continuation to the downside.