Price has broken below a key ascending trendline and appears to be forming a lower high near the broken structure zone. I’m watching for a retest and bearish rejection from this area to confirm a short setup.
Confluences:
• Break of trendline (structure shift)
• Potential lower high forming
• EMA 20/50 curling downward
• Looking for bearish rejection candle on 1H
Entry: On confirmation of rejection
Target zone: 1.3404 → 1.3316 → 1.3260
Invalidation: Break back above the retest zone
Confluences:
• Break of trendline (structure shift)
• Potential lower high forming
• EMA 20/50 curling downward
• Looking for bearish rejection candle on 1H
Entry: On confirmation of rejection
Target zone: 1.3404 → 1.3316 → 1.3260
Invalidation: Break back above the retest zone
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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.