I am looking to take a short position as price has closed below the ascending green trendline, indicating a potential breakdown from the bullish structure.
Bearish rejection at previous highs suggests selling pressure.
Entry Price: 1.0900
Stop Loss (SL): 1.0950 (above the broken trendline and resistance zone)
Take Profit (TP) Levels:
TP1: 1.0830 (First target & SL to break even)
TP2: 1.0790
TP3: 1.0620
If price remains below the broken trendline, further bearish movement is anticipated.
A return above 1.0950 would invalidate the setup and indicate potential bullish continuation.
Bearish rejection at previous highs suggests selling pressure.
Entry Price: 1.0900
Stop Loss (SL): 1.0950 (above the broken trendline and resistance zone)
Take Profit (TP) Levels:
TP1: 1.0830 (First target & SL to break even)
TP2: 1.0790
TP3: 1.0620
If price remains below the broken trendline, further bearish movement is anticipated.
A return above 1.0950 would invalidate the setup and indicate potential bullish continuation.
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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.