Entry: Sell around 1.06850–1.06880
Stop Loss: Above the most recent swing high (~1.07050)
Take Profit: Initial TP around 1.06600, with extended TP near 1.06350
---
Reasons for Entry:
1. Bearish Trend Continuation: The overall movement shows a series of lower highs and lower lows—typical bearish price action.
2. Resistance Zone: 1.06850–1.06900 has acted as resistance recently.
3. Lack of Bullish Momentum: After the retracement, bulls are not showing strength to break above resistance.
4. Risk-Reward Setup: Around 1:2 R:R ratio makes it a relatively favorable setup.
---
If you're more conservative, you could wait for a break and close below 1.06700 on a strong bearish candle as a confirmation.
Want me to draw zones or trendlines on it for visual clarity?
NOT FINANCIAL ADVICE BUT FOR RESEARCH PURPOSES ONLY
Stop Loss: Above the most recent swing high (~1.07050)
Take Profit: Initial TP around 1.06600, with extended TP near 1.06350
---
Reasons for Entry:
1. Bearish Trend Continuation: The overall movement shows a series of lower highs and lower lows—typical bearish price action.
2. Resistance Zone: 1.06850–1.06900 has acted as resistance recently.
3. Lack of Bullish Momentum: After the retracement, bulls are not showing strength to break above resistance.
4. Risk-Reward Setup: Around 1:2 R:R ratio makes it a relatively favorable setup.
---
If you're more conservative, you could wait for a break and close below 1.06700 on a strong bearish candle as a confirmation.
Want me to draw zones or trendlines on it for visual clarity?
NOT FINANCIAL ADVICE BUT FOR RESEARCH PURPOSES ONLY
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.