This chart represents a EUR/USD (Euro to US Dollar) price analysis on the 1-hour timeframe with a trade setup.
Key Observations:
1. Resistance Rejection
The price has reached a strong resistance level around 1.05135 (blue line).
A potential rejection is expected from this area, leading to a bearish move.
2. Trade Setup (Sell Position)
The red zone represents the stop-loss area, meaning if the price goes above this zone (around 1.05325), the trade will be invalidated.
The green zone is the take-profit area, where the trader expects price to fall (around 1.04714).
3. Projected Price Movement
The black arrows indicate a bearish move after hitting resistance.
Price is expected to drop towards the support zone marked in red near 1.04714.
Conclusion:
If price continues to reject this resistance, it could be a good short (sell) opportunity.
A break above 1.05325 would invalidate the setup.
Traders might wait for further confirmation (like a bearish candlestick pattern) before entering.
Let me know if you need a deeper breakdown!
Key Observations:
1. Resistance Rejection
The price has reached a strong resistance level around 1.05135 (blue line).
A potential rejection is expected from this area, leading to a bearish move.
2. Trade Setup (Sell Position)
The red zone represents the stop-loss area, meaning if the price goes above this zone (around 1.05325), the trade will be invalidated.
The green zone is the take-profit area, where the trader expects price to fall (around 1.04714).
3. Projected Price Movement
The black arrows indicate a bearish move after hitting resistance.
Price is expected to drop towards the support zone marked in red near 1.04714.
Conclusion:
If price continues to reject this resistance, it could be a good short (sell) opportunity.
A break above 1.05325 would invalidate the setup.
Traders might wait for further confirmation (like a bearish candlestick pattern) before entering.
Let me know if you need a deeper breakdown!
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.