Short Trade Setup (Bearish Scenario)
1. Entry Point: Around the resistance level at 1.0875 - 1.0880, if there are signs of rejection (e.g., wicks or bearish candlestick patterns like a shooting star or engulfing pattern).
2. Stop-Loss: Just above the resistance at 1.0895 - 1.0900 to protect against a breakout.
3. Take-Profit Target:
First target: 1.0830 (intermediate support level).
Second target: 1.0780 (main support zone shown in the chart).
4. Risk-Reward Ratio: Aim for at least 1:2 or 1:3, meaning for every pip risked, target at least double or triple the reward.
1. Entry Point: Around the resistance level at 1.0875 - 1.0880, if there are signs of rejection (e.g., wicks or bearish candlestick patterns like a shooting star or engulfing pattern).
2. Stop-Loss: Just above the resistance at 1.0895 - 1.0900 to protect against a breakout.
3. Take-Profit Target:
First target: 1.0830 (intermediate support level).
Second target: 1.0780 (main support zone shown in the chart).
4. Risk-Reward Ratio: Aim for at least 1:2 or 1:3, meaning for every pip risked, target at least double or triple the reward.
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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.