WLD Rejects Major Supply Zone – Short the Bounce
🔴 $WLD - SHORT
Trade Plan:
Current Price: ~$0.6024
Entry Zone: 0.585 - 0.618
SL: 0.655
TP1: 0.555
TP2: 0.505
TP3: 0.455
The 4H chart shows price tapping into a major supply zone and previous distribution area inside the shaded Entry Zone of 0.585-0.618 before printing a strong bearish rejection candle at current price ~$0.6024. This level coincides with the 0.5 Fib retracement of the larger downtrend and a bearish order block that previously triggered heavy selling. Market structure has shifted to lower highs with clear displacement below the recent swing low, confirming bearish intent. The large glowing red directional arrow highlights the high-probability continuation as volume profile shows thin demand overhead. The red SL at 0.655 sits safely above the liquidity pool and invalidation level. Green TP levels target previous demand zones and unfilled fair value gaps below. This setup offers strong risk-reward as sellers regain control after the failed recovery attempt.
Will WLD extend lower toward the 0.505-0.455 demand zone or stall temporarily?
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DYOR & manage risk!
