Trade Bias: Bearish - but maybe only for next week... need to wait
Looking at all three timeframes (15m, 1H, 4H), we can observe that while EUR/USD had a strong bullish trend from late February through early March, price action is now showing signs of exhaustion and a potential reversal. The recent price action shows a failure to maintain the highs above 1.0950 and a subsequent breakdown.
Entry Price: 1.0825
Entering on a pullback to the 1.0825 level, which represents a significant intraday level that could act as resistance after being broken to the downside.
Stop Loss: 1.0860
With 35 pips max risk parameter, placing the stop loss at 1.0860 keeps us within that limit while positioning above the recent swing high on the 15-minute chart.
Take Profit Levels:
Primary TP: 1.0780 (45 pips reward)
Extended TP: 1.0740 (85 pips reward)
Risk-to-Reward Ratio:
Primary target: 1:1.3 (35 pips risk for 45 pips reward)
Extended target: 1:2.4 (35 pips risk for 85 pips reward)
Trade Rationale (Multi-Timeframe Analysis):
4H Chart: Shows price recently reached a significant high around 1.0950, created a double top formation, and is now showing signs of reversal. The long-term uptrend that began in February may be losing momentum.
1H Chart: Reveals clear bearish momentum with a breakdown from recent consolidation. Price has formed lower highs and lower lows, indicating a shift to a short-term downtrend.
15m Chart: Provides the most immediate confirmation of bearish momentum with strong downward pressure and very little bullish correction.
Entry Confirmation:
Wait for one of these conditions:
A bearish rejection candle at the 1.0825 level
A break below 1.0805 with a subsequent retest of 1.0825
Trade Management:
Consider moving stop loss to breakeven after price moves 20 pips in your favor
Partial profit taking at primary target (1.0780)
Trail the remainder of position with a 15-20 pip trailing stop
Looking at all three timeframes (15m, 1H, 4H), we can observe that while EUR/USD had a strong bullish trend from late February through early March, price action is now showing signs of exhaustion and a potential reversal. The recent price action shows a failure to maintain the highs above 1.0950 and a subsequent breakdown.
Entry Price: 1.0825
Entering on a pullback to the 1.0825 level, which represents a significant intraday level that could act as resistance after being broken to the downside.
Stop Loss: 1.0860
With 35 pips max risk parameter, placing the stop loss at 1.0860 keeps us within that limit while positioning above the recent swing high on the 15-minute chart.
Take Profit Levels:
Primary TP: 1.0780 (45 pips reward)
Extended TP: 1.0740 (85 pips reward)
Risk-to-Reward Ratio:
Primary target: 1:1.3 (35 pips risk for 45 pips reward)
Extended target: 1:2.4 (35 pips risk for 85 pips reward)
Trade Rationale (Multi-Timeframe Analysis):
4H Chart: Shows price recently reached a significant high around 1.0950, created a double top formation, and is now showing signs of reversal. The long-term uptrend that began in February may be losing momentum.
1H Chart: Reveals clear bearish momentum with a breakdown from recent consolidation. Price has formed lower highs and lower lows, indicating a shift to a short-term downtrend.
15m Chart: Provides the most immediate confirmation of bearish momentum with strong downward pressure and very little bullish correction.
Entry Confirmation:
Wait for one of these conditions:
A bearish rejection candle at the 1.0825 level
A break below 1.0805 with a subsequent retest of 1.0825
Trade Management:
Consider moving stop loss to breakeven after price moves 20 pips in your favor
Partial profit taking at primary target (1.0780)
Trail the remainder of position with a 15-20 pip trailing stop
Order cancelled
will make new one next week
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.