$WLD is approaching a key supply zone where selling pressure could start building again.
Trading Plan – Short $WLD
Entry: 0.370 – 0.390
Stop Loss: 0.405
TP1: 0.350
TP2: 0.330
TP3: 0.310
The recent bounce has pushed price back into a major resistance area that previously rejected buyers. The current move still appears to be a corrective rally within the broader bearish structure. If bulls fail to establish acceptance above this supply zone, the probability of a strong rejection increases, opening the door for a move toward the liquidity resting below the recent swing lows.
Stay patient, wait for confirmation, manage your risk, and avoid chasing the move. DYOR.
Trading Plan – Short $WLD
Entry: 0.370 – 0.390
Stop Loss: 0.405
TP1: 0.350
TP2: 0.330
TP3: 0.310
The recent bounce has pushed price back into a major resistance area that previously rejected buyers. The current move still appears to be a corrective rally within the broader bearish structure. If bulls fail to establish acceptance above this supply zone, the probability of a strong rejection increases, opening the door for a move toward the liquidity resting below the recent swing lows.
Stay patient, wait for confirmation, manage your risk, and avoid chasing the move. DYOR.