$IP 3D Update
- Given the heavy bearish structure, I expect price to test or briefly pierce below 0.4702 to sweep liquidity.
- If a bullish reversal formation appears (like a strong pin bar or engulfing candle after the sweep), I would look for a long towards 0.7680 and 1.0040.
- If price fails to show a clear reversal and stays under 0.4702, bears remain in control and the downtrend could extend further.
- To take the long, wait for a powerful lower timeframe reversal or a sharp reclaim of 0.4803 after a liquidity grab. Example: If you see price wick below 0.4702, then close back above 0.4803 with strong volume, that’s a sign bulls are stepping in.
- If the price closes decisively below 0.4702 without any reversal, my bias remains bearish and I would not look for longs until a proper bottoming formation is visible.
