Trade Setup – Bullish Rejection (If price holds above 1.1720):
Entry: Around 1.1725–1.1735
Take Profit (TP):
TP1: 1.1790
TP2: 1.1845
Stop Loss (SL): 1.1690
*
*The chart shows a clear bullish market structure with multiple Breaks of Structure (BOS) confirming upward momentum. However, the current price action indicates a pullback within a consolidation range.
*
*Key Observations:
*
*Market Structure:
*
* Previous CHoCHs (Change of Character) have shifted to BOS, signaling bullish dominance.
* Recent BOS at higher levels confirms buyers are in control.
*
* Consolidation Zone:
*
* Price is currently ranging in a horizontal box between approximately 1.1720 – 1.1850.
* Current price has pulled back to the bottom of the range, testing support near 1.1720, which
* aligns with the Ichimoku cloud for confluence.
*
* Ichimoku Support:
*
* The price is hovering just above the Kumo (cloud), indicating potential support.
* If it holds above the cloud, a bounce toward the top of the range is likely.
*
* Possible Scenarios:
*
*1. Bullish Scenario:
*
* If price holds above 1.1720 and the cloud, expect a rebound toward 1.1850.
* A breakout above 1.1850 could lead to continuation of the uptrend.
*
*2. Bearish Scenario:
*
*
*
*
*
Entry: Around 1.1725–1.1735
Take Profit (TP):
TP1: 1.1790
TP2: 1.1845
Stop Loss (SL): 1.1690
- EUR/USD Analysis (4H Chart –
*
*The chart shows a clear bullish market structure with multiple Breaks of Structure (BOS) confirming upward momentum. However, the current price action indicates a pullback within a consolidation range.
*
*Key Observations:
*
*Market Structure:
*
* Previous CHoCHs (Change of Character) have shifted to BOS, signaling bullish dominance.
* Recent BOS at higher levels confirms buyers are in control.
*
* Consolidation Zone:
*
* Price is currently ranging in a horizontal box between approximately 1.1720 – 1.1850.
* Current price has pulled back to the bottom of the range, testing support near 1.1720, which
* aligns with the Ichimoku cloud for confluence.
*
* Ichimoku Support:
*
* The price is hovering just above the Kumo (cloud), indicating potential support.
* If it holds above the cloud, a bounce toward the top of the range is likely.
*
* Possible Scenarios:
*
*1. Bullish Scenario:
*
* If price holds above 1.1720 and the cloud, expect a rebound toward 1.1850.
* A breakout above 1.1850 could lead to continuation of the uptrend.
*
*2. Bearish Scenario:
*
*
A breakdown below 1.1720 and the cloud may signal a shift in momentum.
* This could lead to a deeper correction toward 1.1650 – 1.1600 levels.
*
*
*
Trade active
Perfect — since EUR/USD has now touched the bottom of the consolidation range (around 1.1720) and is starting to bounce upward, the bullish scenario is now active.
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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.