$2Z - SHORT Setup
Entry: 0.1160 – 0.1170 (On rejection from this resistance zone)
Target 1:0.1145
Target 2:0.1135
Stop Loss:0.1180 (Above the recent high)
My View:
2Z is exhibiting clear bearish momentum,having been sharply rejected from the 24h high (0.12870) and continuing its decline. The price is currently in a weak consolidation near the day's low, attempting a shallow retracement. It is approaching a defined resistance area, which aligns with the recent breakdown level. The order book shows a dominant Ask volume (83.73%), indicating overwhelming selling pressure is stacked above the current price. Price action shows a series of lower highs and lower lows, confirming the downtrend. The plan is to enter a short position on a confirmed rejection from the defined resistance area, anticipating a continuation of the decline towards the 24h low and potentially a breakdown to new lows.
Bias: Bearish below 0.1170. A break and hold above 0.1180 would suggest a stronger corrective bounce is in play.
Disclaimer:My plan. Not advice. Trade your own risk.
