POL on the 4H timeframe is currently trading around 0.09603 after the prior idea's targets were all reached, with price spiking from the demand zone near 0.0702–0.0750 to a high near 0.1250 before pulling back sharply and now consolidating above the rising trendline near 0.0920–0.0940 as the structure attempts to hold the post-spike base.
The chart shows a rising trendline originating from the August 13 low near 0.0720, connecting the August 20 higher low near 0.0750 and the August 31 touch near 0.0870–0.0880 and the September 2 low near 0.0900 before price bounced. That trendline has held every significant low since the spike launched and is now climbing into the 0.0920–0.0940 area. The prior spike peaked near 0.1250 on August 25 before a sustained pullback brought price back through 0.1200, 0.1100, 0.1040, 0.0960, and into the rising trendline near 0.0870–0.0900 before each touch produced a recovery. Two horizontal reference levels define the current range, one near 0.0956–0.0960 which is being tested as the current ceiling, and a second near 0.0920–0.0940 which has been the consistent floor through the post-spike consolidation. The 0.0960–0.1000 zone remains as the first meaningful resistance above current price.
All targets from the prior demand zone idea were reached, and price is now in a post-spike consolidation phase where the rising trendline is the key structural support determining whether a second leg higher develops or the correction extends toward the original demand zone.
Key Levels To Watch
→ 0.1200–0.1250 Spike high, major resistance above
→ 0.1040–0.1080 Prior mid-spike consolidation, resistance
→ 0.0960–0.1000 Horizontal resistance, current ceiling
→ 0.0920–0.0940 Rising trendline and horizontal support, current floor
→ 0.0870–0.0900 Secondary support below trendline
→ 0.0750–0.0800 Prior breakout level, deeper support
→ 0.0702–0.0720 Original demand zone, macro support floor
A hold above the rising trendline near 0.0920–0.0940 and a break above 0.0960–0.1000 would confirm the post-spike consolidation as healthy and reopen a move toward 0.1040–0.1080 and potentially a retest of the spike high near 0.1200–0.1250.
A confirmed 4H close below the rising trendline near 0.0920 would suggest the correction is extending beyond a normal post-spike retracement, exposing price to a move toward 0.0870–0.0900 and potentially the prior breakout level near 0.0750–0.0800 on a deeper correction.
Prior targets all reached, post-spike consolidation holding above rising trendline. Hold 0.0920–0.0940 → structure intact, eyes on 0.1000–0.1250. Lose trendline → correction extending, downside toward 0.0870–0.0750. Bias bullish above rising trendline. Shift only on confirmed close below 0.0920–0.0940.