M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the price trades in bearish structure on both the time frame h1 and m15. Therefore the m15 timeframe were bearish from yesterday but during the mid nyc session yesterday. Meanwhile the h1 time frame shifted its character from bullish to bearish side after give decisive close below 5126. As a result. forming the fresh higher time frame resistance at 5188.
Resistance Zones
M15 Resistance Zone
5134.916 – 5137.514
Fresh Resistance Zone
Short Term Intraday Supply Zone
H1 Resistance Zone
5188.363 – 5191.704
Fresh Supply Area
Higher Time Frame Resistance Zone
Support Zones
M15 Support Zone
4972.143 – 4972.818
Pending Support Region
Likely Support Reaction Area
H1 Support Zone
4960.656 – 4961.422
Pending Support Region
Higher Time frame Support Confluence Zone
Session Strategy
Although the sellers are dominating the price on the higher time frame h1 as the price holds the last resistance at 5191.704 on h1 time frame and 5137.514 on m15 time frame. In addition, reclaiming 5191.704 on h1 time frame would establish the character shift while forming the fresh support at 5126 on h1. On the other hand a sustained close above 5137. As a result, would establish the change of character on m15 time frame. Meanwhile forming the fresh support at 5128 on m15. Therefore, a close below 5055 would establish the fresh resistance at 5124 on both the time frame and the price would open the door for the further downside.
Nyc Session Outlook
Although the sellers are controlling the higher time frame bias. Meanwhile defending the last resistance at 5188. Therefore the price hasn’t established the fresh resistance on any time frame. Meanwhile awaiting for the new structure.
Key Resistance and Support zone
M15 Resistance Zone
5134.916 – 5137.514
Pending Resistance Zone
Short Term Intraday Supply Zone
H1 Resistance Zone
5188.363 – 5191.704
Pending Supply Area
Higher Time Frame Resistance Zone
Support Zones
M15 Support Zone
4972.143 – 4972.818
Pending Support Region
Likely Support Reaction Area
H1 Support Zone
4960.656 – 4961.422
Pending Support Region
Higher Time frame Support Confluence Zone
Session Strategy
Although the sellers are dominating the price until the price holds 5188 on higher time frame. In addition, a break above 5188 on h1 time frame. As a result, the price could confirm the change of character on higher time frame. Meanwhile forming the fresh support at 5126. On the other hand, reclaiming the 5137 on m15 time frame could initiate bullish on m15 time frame while establishing the fresh support at 5128. Moreover, if market looses the level at 5055 on h1 higher time frame, could open the further downside momentum. Until that short term pull back expected.
Key Takeways
Trend: Bearish
Bias: Sell On Rise
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.