📊 Market Structure: The price was respecting an ascending trendline but has now broken below it, indicating a possible trend reversal. A bearish break of structure has occurred, confirming a shift to the downside. Key Supply Zone around 1.48775, acting as resistance. Key Demand Zone around 1.47516, a potential target area. 📉 Trade Setup (Short Position): ✅ Entry: After the break of the trendline and a bearish retest near 1.48400 - 1.48775. 📍 Stop Loss: Above the recent high (1.48775). 🎯 Take Profit: 1.47516, aligning with the next demand zone. 📏 Risk-Reward Ratio: 1:2
⚠️ Confirmation Checklist: ✅ Break & Retest of trendline ✅ Rejection from Supply Zone ✅ Momentum shift to bearish
📌 Keep an eye on price action around 1.48400; if price shows rejection with bearish confirmations, this setup remains valid. 🚀 Good luck & trade safe!
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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.