Timeframe: Short-term (30 minutes expiry) Current Price: $$$
1. Market Structure
The market was in a strong downtrend earlier, shown by multiple long red candles. After hitting a low around 105.249, price started making higher lows, forming a temporary bullish correction.
However, this move is not a full trend reversal โ it is only a pullback inside a larger bearish trend.
2. Key Resistance Zone
Price is currently testing a resistance zone around 105.43 โ 105.45. This level was previously a support and now has turned into resistance (Support โ Resistance flip).
This is exactly where sellers usually re-enter.
3. Candlestick Behavior Near the resistance zone, price formed: Small bullish candles Followed by rejection wicks Then a weak green candle This shows buying strength is fading and selling pressure is starting to appear.
4. Trading Probability
Since:
Overall trend is bearish Price is at strong resistance Bullish momentum is weak ๐ High probability move: DOWN (PUT)
5. Best Trade Setup
Trade: DOWN Entry: Near 105.43 โ 105.45 Expiry: 30 seconds Logic: Resistance rejection + trend continuation Conclusion
๐ Market Structure Analysis The chart shows a strong bullish movement โ price moved up rapidly ๐.
After reaching the top, the market entered a consolidation phase, forming small candles ๐ฏ๏ธ, which means the market is now undecided โ a fight between buyers and sellers โ๏ธ. The current price around 58.88 has formed a support zone, and price has bounced from this level before ๐. ๐ง Trading Psychology After a strong bullish move, the market usually follows this pattern:
โก๏ธ A small pullback ๐ฝ โก๏ธ Then continuation to the upside ๐ผ The small candles and lower wicks show that sellers are trying to push the price down, but buyers are holding the level ๐ช. ๐ฏ Overall Bias ๐ Trend: Bullish ๐ ๐ Structure: Higher highs & higher lows ๐ ๐ Zone: Price is holding support ๐งฑ
๐ This means the market still has a higher probability of moving upward ๐โจ
Why the market might move downward: * Bearish Trend: The chart clearly shows that the price is continuously dropping. It is forming consistent Lower Highs and Lower Lows, which is a sign of a strong downtrend.
* Rejection from Resistance: Although the price attempted to move upward, it faced resistance at a specific level and started falling by forming Bearish Candles (Red Candles).
* Candlestick Patterns: Observing the last few candles, the red candles are much larger and more powerful compared to the green ones, indicating the dominance of Sellers.
* Support Breakout: The price is showing a tendency to break through its previous minor support levels. If the current candle closes below the previous low, the probability of a further decline increases.
A Short Note for Trading: "Based on the current market structure, the USD/DZD pair is in strong bearish momentum. Since the price has faced rejection from a major resistance zone and is consistently making lower lows, taking a 'Down' trade could be a logical decision here. However, keep in mind that risks are higher in the OTC market, so following proper money management is essential." > Warning: Trading is highly risky. Especially in the OTC (Over-the-Counter) market where algorithms are at play, it is always better to practice with small amounts.