EURUSD Trade Idea.This chart is a EUR/USD (Euro/US Dollar) 30-minute candlestick trading setup:
Chart Analysis Description:
Overall Trend:
The chart shows a prior strong bearish (downward) trend, followed by a short-term bullish (upward) correction.
Entry Zone:
The marked "entry zone" represents the trader's expected area to enter a sell (short) position. This is just below the 1.14480 resistance level.
Price Action:
The price has moved into the entry zone.
The chart indicates a potential rejection from this area, signaling a reversal to the downside.
Expected Trade Plan:
Sell Entry: Within the entry zone.
Stop Loss: Above 1.14480 (top of red area).
Take Profit (Target): Around 1.13176 (marked with an arrow toward the support zone).
Risk-Reward:
The setup reflects a favorable risk-to-reward ratio, aiming for a larger drop in price relative to the small risk above resistance.
