EUR/USD SHORT IDEA โ 15-Min TimeframeThis chart presents a bearish setup on EUR/USD after price tapped into a strong supply zone, aligning with previous liquidity grab and resistance levels. The trade idea anticipates a reversal from the top and a potential short entry for intraday traders.
๐ธ Key Zones:
๐ด Supply Zone: Around 1.10880โ1.10930, marked by the red zone. Price recently tested this area with a sharp wick rejection, indicating strong seller presence.
๐ต Resistance Line: Horizontal blue line just below the supply zone, showing a previous resistance level which aligns with the recent lower high structure.
๐ก Previous Liquidity Grab: The yellow rectangle marks a key area where price previously broke structure, collected liquidity, and reversed. It now acts as a support-turned-resistance zone.
๐ป Trade Setup:
Entry: Near rejection from the supply zone (current level around 1.1056).
Stop Loss: Above the recent wick highs inside the supply zone.
Take Profit: Targeting previous structure lows around 1.0941, aligned with the green arrow projection.
๐ Market Structure:
Price broke out impulsively and formed a rising wedge (blue trendline).
Bearish divergence possible as momentum slowed down near the top.
Expecting price to break the wedge downside, retest support (potential pullback), and then continue lower as per green projection.
๐ Risk-Reward Ratio: High R:R setup with favorable downside potential if confirmed by volume/price action.
โ ๏ธ Caution: Wait for bearish confirmation such as:
Bearish engulfing candle.
Break and close below wedge support.
Retest of broken structure before entering full position.
โ๏ธ Published by @ansarionline โ April 9, 2025