Trade Bias: Bearish
The price action is forming lower highs and lower lows, indicating a downtrend.
There is a recent rejection from the 190.000 - 190.500 resistance zone.
Entry Price:
189.500 (Sell entry after a potential pullback to this resistance level)
Stop Loss:
190.200 (Above recent highs and resistance, allowing for some volatility)
Take Profit Levels:
Primary TP: 188.200 (Previous support zone)
Extended TP: 187.500 (Next major support if bearish momentum continues)
Risk-to-Reward Ratio:
1:2.5 (Risking ~70 pips for a potential 175 pips gain)
Trade Rationale:
Trend Continuation: The market is respecting a bearish structure.
Resistance Confirmation: 189.500 is a key level where sellers previously took control.
Confluence Factors: Lower highs, recent rejection, and potential for further downside if price fails to break above resistance.
The price action is forming lower highs and lower lows, indicating a downtrend.
There is a recent rejection from the 190.000 - 190.500 resistance zone.
Entry Price:
189.500 (Sell entry after a potential pullback to this resistance level)
Stop Loss:
190.200 (Above recent highs and resistance, allowing for some volatility)
Take Profit Levels:
Primary TP: 188.200 (Previous support zone)
Extended TP: 187.500 (Next major support if bearish momentum continues)
Risk-to-Reward Ratio:
1:2.5 (Risking ~70 pips for a potential 175 pips gain)
Trade Rationale:
Trend Continuation: The market is respecting a bearish structure.
Resistance Confirmation: 189.500 is a key level where sellers previously took control.
Confluence Factors: Lower highs, recent rejection, and potential for further downside if price fails to break above resistance.
Trade closed: stop reached
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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.
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.