M15 & H1 Intraday Key Levels|Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell on Rise
Session Focus: London| Nyc
London Market Overview
Although the market continued yesterday’s bearish structure on h1 time frame. In addition on m15 time frame the price established change of character in asian session today towards bullish side. Afterwards during the mid asian session the price again shifted it’s character in m15 towards bearish side and continued the h1 structure. Furthermore downside will remain intact.
Resistance Zones
M15 Resistance Zone
5382.484 – 5393.750
Pending Resistance from Previous Structure
Anticipated Supply Reaction Area
H1 Resistance Zone
5387.097 – 5393.750
Potential Resistance Level
Higher Timeframe Resistance Area
Support Zones
M15 Support Zone
5230.701 – 5222.979
Pending Support Level
Anticipated Demand Area
H1 Support Zone
5175.073 – 5167.186
Pending Support Area
Higher Timeframe Support Area
Session Strategy
Although the structure remains bearish on m15 and h1 time frame, moreover the price hasn’t established fresh resistance on m15 time frame and meanwhile the resistance level on h1 time frame at 5387 remains valid. In addition if the market closes above 5419.808 on h1 time frame then the price would establish dual change of character on h1 time frame and afterwards the new support will be at 5393 and, until that furthermore downside will remain intact.
NYC Session Outlook
Although the nyc continued the bearish structure established during the london session, meanwhile the price forming the lower low and lower high on m15 timeframe. Although the market took support at h4 level 5094 and made some pullback but still bearish momentum continues in m15 and h1. Moreover a sustained close below 5260 on h1 then the price may confirm 5367 as a fresh resistance area
Key Resistance and support zones
-
M15 Resistance: 5276.845 – 5281.068
-
H1 Resistance: 5367.309 – 5375.884
- H4 Support: 5094
In addition the market formed new intraday resistance on m15 5276.845 – 5281.068, H1 at 5367.309 – 5375.884. Meanwhile no immediate support established in m15 and h1, and moreover the structure remains bearish in the timeframe. Meanwhile nearest higher timeframe support is at 5094.
Session Strategy
Although the structure remains bearish, if price trades below 5276, moreover a decisive close above 5281 level would establish character change on m15. Therefore 5375 would confirm the change of character in h1, until then furthermore downside will remain intact.
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.