Technical Breakdown:
Rising Wedge Pattern ✅
Price was moving inside a rising channel (blue lines).
This is often a bearish reversal pattern.
Break of Structure 💥
Price broke the lower trendline + support zone — confirming potential downside momentum.
Short Entry Zone 🟪
Purple box marks a premium entry zone (Order Block / Supply Zone) — where sellers are likely positioned.
Stop Loss: 1.14781 🔺 (Above last high)
Target: Key demand zone below (highlighted in grey) 🎯
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📦 Order Flow Perspective:
Internal structure shows lower highs and lower lows forming.
Expecting price to retest lower blue trendline, then drop to fill imbalance and hit demand zone below.
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🗓️ Upcoming Events:
Watch out for USD-related news near June 10 & June 14 — it may increase volatility 📊
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🧠 Summary:
This is a classic bearish continuation setup.
Entry after pullback = higher R:R potential.
Patience and proper risk management are key 🔑
---
Rising Wedge Pattern ✅
Price was moving inside a rising channel (blue lines).
This is often a bearish reversal pattern.
Break of Structure 💥
Price broke the lower trendline + support zone — confirming potential downside momentum.
Short Entry Zone 🟪
Purple box marks a premium entry zone (Order Block / Supply Zone) — where sellers are likely positioned.
Stop Loss: 1.14781 🔺 (Above last high)
Target: Key demand zone below (highlighted in grey) 🎯
---
📦 Order Flow Perspective:
Internal structure shows lower highs and lower lows forming.
Expecting price to retest lower blue trendline, then drop to fill imbalance and hit demand zone below.
---
🗓️ Upcoming Events:
Watch out for USD-related news near June 10 & June 14 — it may increase volatility 📊
---
🧠 Summary:
This is a classic bearish continuation setup.
Entry after pullback = higher R:R potential.
Patience and proper risk management are key 🔑
---
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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.
Related publications
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.