Trade SetupGiven the bearish bias and proximity to support, two approaches are possible. However, a short aligns better with the trend.Short Position (Preferred)Entry: Wait for a retrace to 84.20–84.30 (near resistance and SMA)Stop Loss: Above 84.50 (clear break of resistance)Take Profit: 82.90 (just above support) or 82.50 if momentum continuesLong Position (Alternative)Entry: If price holds above 82.88 and shows a bullish reversal (e.g., higher low), enter near 83.00–83.20Stop Loss: Below 82.70Take Profit: 84.20 (resistance)
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Trade SetupGiven the bearish bias and proximity to support, two approaches are possible. However, a short aligns better with the trend.Short Position (Preferred)Entry: Wait for a retrace to 84.20–84.30 (near resistance and SMA)Stop Loss: Above 84.50 (clear break of resistance)Take Profit: 82.90 (just above support) or 82.50 if momentum continuesLong Position (Alternative)Entry: If price holds above 82.88 and shows a bullish reversal (e.g., higher low), enter near 83.00–83.20Stop Loss: Below 82.70Take Profit: 84.20 (resistance)