๐ฏ Take Profit Targets: ๐ TP1: 1.07490 (First Support Level) ๐ TP2: 1.06966 (Extended Bearish Move)
๐ Risk-Reward Ratio Calculation ๐ Risk (SL Distance): 1.08377 - 1.07884 = 0.00493 risk per unit ๐ Reward to TP1: 1.07884 - 1.07490 = 0.00394 (1:0.8 R/R) ๐ Reward to TP2: 1.07884 - 1.06966 = 0.00918 (1:1.86 R/R)
๐ Technical Analysis & Strategy ๐ Bearish Trend Reversal: Price rejected at 1.08377 resistance, signaling a possible reversal. ๐ Rising Wedge Breakdown: Bearish wedge formation suggests further downside. ๐ Volume Confirmation Needed: Ensure strong selling volume below 1.07884 for momentum. ๐ Momentum Shift Expected: Staying below 1.07884 could push price to 1.07490, then 1.06966.
๐ Key Resistance & Support Levels ๐ด 1.08377 โ Stop-Loss / Resistance Level ๐ก 1.07884 โ Breakdown Level / Short Entry ๐ข 1.07490 โ First Support / TP1 ๐ข 1.06966 โ Final Target / TP2
๐ Trade Execution & Risk Management ๐ Volume Confirmation: Look for strong bearish volume below 1.07884 before entry. ๐ Trailing Stop Strategy: Move SL to entry (1.07884) after TP1 (1.07490) is hit.
๐ฐ Partial Profit Booking Strategy: โ Take 50% profits at 1.07490, let the rest run toward 1.06966. โ Adjust Stop-Loss to Break-even (1.07884) after TP1 is hit.
โ ๏ธ Fake Breakdown Risk โ If price reclaims 1.07884, exit early to limit losses. โ Wait for a strong bearish candle close before entering aggressively.
๐ Final Thoughts โ Bearish Setup โ Rejection at 1.08377 signals potential downside. โ Momentum Shift Possible โ Watch for volume confirmation. โ Risk-Reward Ratio โ Favorable 1:1.86 R/R to TP2. ๐ก Stick to the plan, manage risk, and trade smart! ๐๐ฅ
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.
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.