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, as the price holds the last resistance at 5063 on h1 higher time frame. Meanwhile the price hasn’t established any new resistance on any time frame. In addition, if price closes below 4968 on m15 shorter time frame, as a result the price would confirm the new resistance on m15 shorter time frame. On the other hand the market tapped at the m15 support zone, and reacted to that level but the higher time frame selling pressure continues.
Resistance Zones
M15 Resistance Zone
5056.301 – 5063.976
Pending Resistance Zone
Multi Time Frame Alignment Zone
H1 Resistance Zone
5046.623 – 5063.976
Pending Resistance Zone
Higher Time Frame Resistance Zone
Support Zones
M15 Support Zone\H1 Support Zone
Although the price trades in bearish structure, therefore the price the hasn’t established any new support on any time frame. Meanwhile h1 pending support will remain valid at 4961.510 on higher time frame.
Session Strategy
As the higher time frame favors the sellers, as long as the price holds the last resistance at 5063 on h1 higher time frame. Therefore a decisive close above 5063 on h1 time frame, as a result the price could confirm the character shift on h1 time frame while establishing the fresh support at 5035 on h1. Unless the resistance 5063 remains intact on h1 time frame, the price may continue for furthermore downside.
Nyc Session Outlook
Although the price continues to trades in bearish structure, therefore the price hasn’t established new resistance at any time frame. Therefore, if the price holds 5063 on h1 time frame, the price may remain bullish.
Key Resistance & Support Zones
Resistance Zone
M15 & H1 Resistance Zone
5046.623 – 5063.976
Pending Resistance Zone
Higher Time Frame Resistance Zone
Support Zone
M15 & H1 Support Zone
4961.422 – 4960.656
Pending Resistance Zone
Higher Time Frame Support Region
Session Strategy
Although the price is bearish, unless the price holds 5063 on h1 higher time frame. On the other hand, a break above 5063 would confirm the character shift towards the bullish side while forming the the fresh support zone at 5034. In addition, if price closes below 4967 on m15 shorter time frame, as a result the price would confirm new resistance on m15 time frame at 5027. Furthermore downside would remain intact until the price holds 5063 on h1.
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.