The market has formed a clear bearish harmonic pattern indicating a potential reversal. The descending trendline (in red) is acting as a strong resistance level. Price is currently retesting this zone, which has previously caused rejections.
Trade Setup:
Entry: Around 3358
Stop Loss: 3431
Take Profit 1: 3238
Take Profit 2: 3092
Take Profit 3: 2959
Risk/Reward Ratio: Greater than 1:3
This setup offers a strong short (sell) opportunity as the price approaches key resistance with signs of rejection.
Note: This analysis is for educational purposes only. Please do your own research before taking any trade.
Trade Setup:
Entry: Around 3358
Stop Loss: 3431
Take Profit 1: 3238
Take Profit 2: 3092
Take Profit 3: 2959
Risk/Reward Ratio: Greater than 1:3
This setup offers a strong short (sell) opportunity as the price approaches key resistance with signs of rejection.
Note: This analysis is for educational purposes only. Please do your own research before taking any trade.
Join Miss Market Maker on Telegram for expert market analysis and real-time trading https://signals.https://t.me/Miss_Market_Maker
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.
Join Miss Market Maker on Telegram for expert market analysis and real-time trading https://signals.https://t.me/Miss_Market_Maker
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.