Technical Context (1H Chart Analysis):
Market structure is currently bearish on the 1H, with lower highs and lower lows.
Price is forming a potential short-term bottom near $3,220–$3,225, with some sideways consolidation, possibly a base for a bounce.
A key level to watch is the previous breakdown level around $3,260, which could act as resistance.
Trade Idea: Short-Term Buy (Intraday Bounce)
📥 Entry (Buy Market/Limit):
$3,225 (current consolidation zone)
🛑 Stop Loss:
$3,208 (below the recent low and liquidity sweep zone)
🎯 Take Profit Targets:
TP1: $3,248 (minor intraday resistance)
TP2: $3,260 (previous structure support turned resistance)
📊 Risk:Reward:
Risk: 17 points
Reward: 23–35 points
R:R Ratio: ~1.35 to 2.0
📉 Alternate Trade (If Price Rejects and Breaks Lower)
If we see a strong bearish candle close below $3,208, consider:
🔻 Sell Entry: $3,205
SL: $3,230
TP: $3,160 (clean support zone + high-volume node)
📏 Position Sizing Example:
For a $10,000 account risking 1% ($100), with 1 point = $1 per 0.01 lot:
Stop: 17 points → $100 / 17 = ~$5.88 per point → ~0.06 lots
Market structure is currently bearish on the 1H, with lower highs and lower lows.
Price is forming a potential short-term bottom near $3,220–$3,225, with some sideways consolidation, possibly a base for a bounce.
A key level to watch is the previous breakdown level around $3,260, which could act as resistance.
Trade Idea: Short-Term Buy (Intraday Bounce)
📥 Entry (Buy Market/Limit):
$3,225 (current consolidation zone)
🛑 Stop Loss:
$3,208 (below the recent low and liquidity sweep zone)
🎯 Take Profit Targets:
TP1: $3,248 (minor intraday resistance)
TP2: $3,260 (previous structure support turned resistance)
📊 Risk:Reward:
Risk: 17 points
Reward: 23–35 points
R:R Ratio: ~1.35 to 2.0
📉 Alternate Trade (If Price Rejects and Breaks Lower)
If we see a strong bearish candle close below $3,208, consider:
🔻 Sell Entry: $3,205
SL: $3,230
TP: $3,160 (clean support zone + high-volume node)
📏 Position Sizing Example:
For a $10,000 account risking 1% ($100), with 1 point = $1 per 0.01 lot:
Stop: 17 points → $100 / 17 = ~$5.88 per point → ~0.06 lots
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.