Strong bearish - Price continues to print BOS (Break of Structure) down consistently, no significant higher high is formed.
Estimated Time of Potential Movement:
A potential move towards TP could occur in the next 2-4 hours, depending on the strength of the rejection on retest.
Advanced Scenario:
If TP is reached:
There could be further downside to 0.16700 (next liquidity zone)
Re-enter if pullback to 0.17300-0.17450 and validation rejection candle (SL: 0.17750, TP: 0.16700)
If SL is reached:
Backup setup: wait for price reject from the upper supply area (0.18800 - 0.19000), then re-enter short with SL: 0.19300 and TP: 0.17650
Estimated Time of Potential Movement:
A potential move towards TP could occur in the next 2-4 hours, depending on the strength of the rejection on retest.
Advanced Scenario:
If TP is reached:
There could be further downside to 0.16700 (next liquidity zone)
Re-enter if pullback to 0.17300-0.17450 and validation rejection candle (SL: 0.17750, TP: 0.16700)
If SL is reached:
Backup setup: wait for price reject from the upper supply area (0.18800 - 0.19000), then re-enter short with SL: 0.19300 and TP: 0.17650
Trade active
SL HitRe-Entry Short
Entry at 0.18800 - 0.19000
SL: 0.19300 and TP: 0.17650
Order cancelled
Market shifting into minor Bullish - Cancel this trade ideas
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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.