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Trade Overview:
Entry: 0.2517
Stop Loss (SL): 0.2586
Take Profit (TP): 0.2434
Key Points:
Trend Analysis:
The price is currently under a bearish trend as indicated by the downward sloping blue trendline. This trendline shows consistent resistance, rejecting price rallies and continuing the bearish bias.
The yellow trendlines represent key support and resistance zones, highlighting the consolidation range where the price has been fluctuating within a defined pattern.
Market Structure:
Price has formed a lower high (marked as point 4), followed by a lower low (point 5), confirming the continuation of the downtrend. This suggests that the market is likely to keep pushing lower towards the target.
The price has retraced upwards but has failed to break the bearish trendline, reinforcing the idea of further downside potential.
Entry Strategy:
Entry Point: We are entering at 0.2517, just below the recent resistance, anticipating the price to continue downward after failing to breach the trendline.
The price action at point (4) suggests weakness in the upward movement, making this a prime opportunity to capitalize on further downside movement.
Risk-Reward Setup:
The Stop Loss is set at 0.2586, just above the last swing high, giving room for minor retracements while protecting against a breakout above the trendline.
The Take Profit is set at 0.2434, targeting the next level of support where the price could potentially find buying interest. This gives a favorable Risk-Reward Ratio of about 2:1.
Volume Confirmation:
Notice the increase in volume during the downward movement, suggesting that sellers are in control. A drop in volume during price retracements further validates the weak bullish momentum and confirms the expected continuation to the downside.
Why This Setup?
The bearish trend, price action, and trendline rejection all align with a continuation trade setup.
The risk-reward is favorable, with a clear structure to exit the trade if the price moves against the position.
The broader market context is also in line with a bearish outlook, making this a high-probability trade setup for the next few hours.
Trade Overview:
Entry: 0.2517
Stop Loss (SL): 0.2586
Take Profit (TP): 0.2434
Key Points:
Trend Analysis:
The price is currently under a bearish trend as indicated by the downward sloping blue trendline. This trendline shows consistent resistance, rejecting price rallies and continuing the bearish bias.
The yellow trendlines represent key support and resistance zones, highlighting the consolidation range where the price has been fluctuating within a defined pattern.
Market Structure:
Price has formed a lower high (marked as point 4), followed by a lower low (point 5), confirming the continuation of the downtrend. This suggests that the market is likely to keep pushing lower towards the target.
The price has retraced upwards but has failed to break the bearish trendline, reinforcing the idea of further downside potential.
Entry Strategy:
Entry Point: We are entering at 0.2517, just below the recent resistance, anticipating the price to continue downward after failing to breach the trendline.
The price action at point (4) suggests weakness in the upward movement, making this a prime opportunity to capitalize on further downside movement.
Risk-Reward Setup:
The Stop Loss is set at 0.2586, just above the last swing high, giving room for minor retracements while protecting against a breakout above the trendline.
The Take Profit is set at 0.2434, targeting the next level of support where the price could potentially find buying interest. This gives a favorable Risk-Reward Ratio of about 2:1.
Volume Confirmation:
Notice the increase in volume during the downward movement, suggesting that sellers are in control. A drop in volume during price retracements further validates the weak bullish momentum and confirms the expected continuation to the downside.
Why This Setup?
The bearish trend, price action, and trendline rejection all align with a continuation trade setup.
The risk-reward is favorable, with a clear structure to exit the trade if the price moves against the position.
The broader market context is also in line with a bearish outlook, making this a high-probability trade setup for the next few hours.
Trade closed: target reached
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.
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.