Analysis
🔍 What we see on the chart
Clean rejection from premium (4758 Reaction Level)
Strong bearish displacement
CHoCH confirmed
Price is now:
below EMA200
at 0.382 equilibrium (~4628)
forming a small range (inducement)
🧠 What price is doing
👉 Not a healthy pullback
👉 Building liquidity before continuation
➡️ Current range = trap for early buyers
📊 What to watch
🔴 Main scenario (bearish continuation)
If range breaks:
TP2: 4553
0.618: 4522 (key level)
TP3: 4474
🟢 Alternative (bounce)
If:
reclaim above 4620–4650
acceptance above EMA200
👉 possible deeper retracement
⚠️ Conclusion
👉 Structure + Reaction Levels + Fibonacci
= bearish continuation bias