M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| New York
London Market Overview
The price break the low during the london session on m15 and h1 time frame. As a result the price established change of character on m15 and h1 time frame, therefore the price continued its bearish momentum while holding the last resistance. Moreover the price established character shift on m15 and h1 time frame towards the bearish side, meanwhile the price formed the new resistance at 1.18166 on h4 time frame.
Resistance Zones
M15 Resistance Zone
1.18153 – 1.18216
Newly formed supply zone
Potential resistance reaction area
H1 Resistance Zone
1.18464 – 1.18496
Newly formed supply zone
Likely resistance reaction area
Support Zones
M15 Support Zone \ H1 Support Zones
Although there is no near by support formed by the price. Meanwhile the price established the gap down during the london session. In addition the price hasn’t tested any of the supported but as the same time no support is valid on m15 and h1, moreover the sellers are dominating the price towards the downside ,meanwhile the price is approaching the valid h4 support area at 1.16826, short term pullback expected.
Session Strategy
Although the price established sudden gap down during the london session. Meanwhile there is no valid demand area on m15 and h1 time frame. Although the buyers are active at 1.16826, but the sudden gap down indicates structure shift towards bearish side. On the other hand the price formed fresh resistance at 1.18153 on h1 time frame.
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.