Trade Setup
- Trade Bias: Bearish (Price is making lower highs and lower lows, with recent rejection from a resistance zone.)
- Entry Price: 1.0380 (After a minor pullback to previous support turned resistance.)
- Stop Loss: 1.0430 (Above the recent swing high and key resistance.)
- Take Profit Levels:
- TP1: 1.0320 (Previous support zone.)
- TP2: 1.0275 (Extended target near the next major support.)
- Risk-to-Reward Ratio: 1:2+ (Depending on execution, targeting at least twice the risk.)
- Trade Rationale:
- Price action shows a bearish structure with lower highs and lower lows.
- The market recently rejected a key resistance zone.
- A pullback to 1.0380 could provide an optimal short entry before continuation downward.
- Bearish momentum aligns with the overall trend, increasing the probability of further downside.
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.