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EURGBP SHORT FORECAST Q2 W18 D29 Y25EURGBP SHORT FORECAST Q2 W18 D29 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly order block ✅5' order blockS ✅Intraday bearish breaks of structure ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
EURGBP SHORT FORECAST Q2 W18 D28 Y25EURGBP SHORT FORECAST Q2 W18 D28 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly order block ✅5' order blockS ✅Intraday bearish breaks of structure ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
EURGBP SHORT FORECAST Q2 W18 D28 Y25EURGBP SHORT FORECAST Q2 W18 D28 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly order block ✅4 Hour order block ✅Intraday bearish breaks of structure to be created ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
EURGBP SHORT FORECAST Q2 W18 Y25EURGBP SHORT FORECAST Q2 W18 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly order block ✅4 Hour order block ✅Intraday bearish breaks of structure to be created ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
5
EURGBP LONG FORECAST Q2 W17 D25 Y25EURGBP LONG FORECAST Q2 W17 D25 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly imbalance filled ✅Tokyo ranges to be filled ✅4H order block rejection ✅intraday bullish breaks of structure 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top.
Long
by JCFRGNT
1
EURGBP LONG FORECAST Q2 W17 D23 Y25EURGBP LONG FORECAST Q2 W17 D23 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Trade confluences - 4 hour order block rejection - 4 hour bullish break of structure - Intraday breaks of structure - Tokyo ranges to be filled NOTE - linked short position is the higher probable setup!!!!!!!! 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Long
by JCFRGNT
2
EURGBP SHORT FORECAST Q2 W17 D3 Y25EURGBP SHORT FORECAST Q2 W17 D23 Y25 Summary - Weekly Orderblock - 15' Orderblock Requirements - Setup A) Await 15' breaks of structure - Pull back short from created 15' order block - Setup B) Lowertime frame break of structure via current available 15' order block - Setup C) Break and retest via 15' order block created upon the break of structure. 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
EURGBP SHORT FORECAST Q2 W16 D18 Y25EURGBP SHORT FORECAST Q2 W16 D18 Y25 Fun Coupon Friday ! SUMMARY - Trading areas identified - Long position via 4H order block + weekly wick imbalance fill alignment. 15' breaks of structure required prior. 15' order block to be created post 15' break of structure. B set up. - Short position via weekly order block 15' order block identified.15' breaks of structure required prior & lower time frame break of structure + turn around in price actions. A Set up FRGNT X
Short
by JCFRGNT
EURGBP potential longsFX:EURGBP On the past two weeks, price has broken out from the descending channel, signaling a strong bullish momentum and is currently on the pullback towards the daily demand zone which is in about 100 pips. Although we don’t currently have an entry signal, our bias would still be buys, searching for potential long opportunities in the smaller timeframes when we get the confirmations. The daily demand zone is also sitting around the 'Point of Control' of the volume profile, which essentially is the area with the biggest volume traded when the breakout took place. From here, we can take it as a confluence that the bulls are in power, as well as the 400 pips of movement upwards with two closed strong bullish weekly candles. However, do note that due to the fact that price respected the daily resistance zone above, there is still potential for price to break below the daily demand zone, and if price breaks below and closes, the buys may become invalid.
Long
by CandleCipher
Market Analysis: EUR/GBP SlipsMarket Analysis: EUR/GBP Slips EUR/GBP declined and is now consolidating losses above the 0.8500 region. Important Takeaways for EUR/GBP Analysis Today - EUR/GBP is trading in a bearish zone below the 0.8630 pivot level. - There is a connecting bearish trend line forming with resistance near 0.8570 on the hourly chart at FXOpen. EUR/GBP Technical Analysis On the hourly chart of EUR/GBP at FXOpen, the pair started a steady decline from well above 0.8700. The Euro traded below the 0.8630 support level against the British Pound. The EUR/GBP chart suggests that the pair even declined below the 0.8600 level and tested 0.8520. It is now consolidating losses and trading below the 50-hour simple moving average. Recently, there was a minor increase above the 0.8540 level. The pair is now facing resistance near the 23.6% Fib retracement level of the downward move from the 0.8738 swing high to the 0.8518 low. There is also a connecting bearish trend line forming with resistance near 0.8570. The next major resistance could be 0.8630 and the 50% Fib retracement level of the downward move from the 0.8738 swing high to the 0.8518 low. A close above the 0.8630 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8685. Any more gains might send the pair toward the 0.8740 level. Immediate support sits near 0.8520. The next major support is near 0.8500. A downside break below the 0.8500 support might call for more downsides. In the stated case, the pair could drop toward the 0.8360 support level. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
EURGBP Short Term Buy Idea Update!!!Hi Traders, on April 10th I shared this idea "EURGBP Short Term Buy Idea" I expected bullish continuation higher from the marked Fibonacci support zones. You can read the full post using the link above. Price reached the first key support zone, respected it and bounced higher as expected!!! If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀 --------------------------------------------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VladimirRibakov
2
“ EUR/GBP Buy Setup – Demand Zone to the Moon? ”Key Zones & Levels 🟦 Demand Zone: Between 0.85555 – 0.85200 Buyers previously pushed price up here — now acting as a strong support base! 🎯 Target Point: 0.87406 Potential upside of +179 pips / +2.09% 🟢 Entry Point: Around 0.85555, just above the demand zone Ideal spot for a Buy Entry if confirmation shows. 🛑 Stop Loss: Set at 0.85200 Smart risk protection below the zone. Indicators 📉 Downtrend Line: A break above this could signal the start of a bullish Reversal. 📈 EMA (7-period): Currently around 0.85796 Reclaiming above this line strengthens the buy signal. Trade Plan Summary ✅ Buy on bounce from demand zone 🔓 Breakout of the trend line = confirmation 🎯 TP: 0.87406 🛡️ SL: 0.85200 ⚖️ Risk-to-Reward Ratio: Excellent (about 1:6) Final Thoughts Wait for bullish candles near the entry point Watch fundamentals too — EUR & GBP news could impact direction Stay alert for false breakouts below the demand zone
Long
by Jameshead007
Triangle Breakout Alert – EUR/GBP Ready to Fly!Hi traders! Analyzing EUR/GBP on the 30M timeframe, spotting a potential bullish breakout from a triangle pattern inside a broader downtrend: 🔹 Entry: 0.86008 🔹 Take Profit (TP): 0.86423 🔹 Stop Loss (SL): 0.85547 Price was consolidating inside a descending channel and recently formed a symmetrical triangle pattern. After multiple touches at both trendlines, bullish momentum broke the triangle to the upside, suggesting a possible short-term reversal or corrective move against the prevailing downtrend. The breakout is supported by a clean candle close above the triangle resistance and a potential retest of the breakout zone. RSI is turning up from the oversold area, signaling a shift in momentum. If bulls maintain control, we could see a push toward the upper limit of the channel or even a full retracement to 0.86423, where previous structure aligns with dynamic resistance. ⚠️ DISCLAIMER: This is not financial advice. Every trader must evaluate their own risk and strategy.
Long
by FXOnTop
EURGBP SHORT FORECAST Q2 W16 D16 Y25EURGBP SHORT FORECAST Q2 W16 D16 Y25 Morning All, A short forecast to begin a monday morning! Weekly order block rejection to start the week. Bullish pressure visible therefore as always, we await confluences prior making an assumption. In addition, we accept another reason for the trade to play against us - the weekly wick high, there is always a chance this is filled prior the turn around in price action however, if a break of 15' structure is presented, that risk will be accepted. Happy to get involved in either of the set ups illustrated- set up 2 is clearly the "risky" trade of the two BUT did we ever forget our role is to manage risk. Set up two however have an added confluence of Tokyo range to be filled, pulling price action short. I trust the chart analysis is becoming self explanatory. Let's see how EURGBP plays! FRGNT X
Short
by JCFRGNT
EURGBP Short Term Buy IdeaH4 - Strong bullish momentum No opposite signs Expecting retraces and further continuation higher until the two Fibonacci support zones hold. If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀 -------------------------------------------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VladimirRibakov
EURGBP SHORT FORECAST Q2 D9 W15 Y25EURGBP SHORT FORECAST Q2 D9 W15 Y25 Welcome back Traders! Here's my take. We have two points of interest here. As always you know how we look into every play. It is imperative we have a turn around of price action prior getting involved even more so when the point of interest is not an order block. My reasoning behind selection of the weekly/daily highs is simply due to how it aligns with market structure. IF we break the most recent Asia lows from that point of interest followed by a pull back into an order block that would have been created and left behind as a result. The short position will be entertained. With the above said, in reflection I am already having second thoughts but feel free ti dive into the way I chart and analysis. Would I risk capital from simply a high? It does not seem "smart". The above is scrapped and we must wait for price action to enter into the daily order block. Let us await a reaction from the area and again, show signs of a turn around. Await for 1'/5' break of structure and lower time frame order block creation. THEN! We arm our capital and take the short position for what I can foresee will be a worthwhile risk to reward. Trade well! FRGNT X
Short
by JCFRGNT
EURGBP: A Potential Short Opportunity Amidst ConsolidationEUR/GBP daily chart reveals a compelling narrative of consolidation followed by a potential bearish reversal. The pair has been trading within a defined range, bounded by key horizontal support and resistance zones (highlighted in blue). The recent price action suggests a rejection from the upper resistance zone, setting the stage for a possible short trade. Key Observations: Range-Bound Consolidation: The chart clearly shows EUR/GBP oscillating within a well-defined range. This pattern indicates a period of indecision, where neither buyers nor sellers have established a clear dominant trend. Resistance Zone Test and Rejection: The price recently revisited the upper resistance zone. The subsequent price action, characterized by a sharp downward move, suggests a strong rejection from this level. This rejection is a critical signal that sellers are stepping in, potentially reversing the recent upward momentum. Bearish Engulfing/Pin Bar Formation (Possible): While the chart doesn't explicitly highlight a candlestick pattern, the sharp rejection from the resistance zone suggests the formation of a bearish engulfing or a pin bar on a lower timeframe. This pattern reinforces the bearish bias. Retracement and Entry Opportunity: The price has retraced a portion of the recent decline. This retracement presents a potential opportunity to enter a short position, capitalizing on the anticipated continuation of the bearish move. Support Zones as Targets: The lower support zone serves as a primary target for the potential short trade. The intermediate support level (around 0.83727) can act as a partial profit-taking zone or a point to trail the stop loss. Pattern Identification: The dominant pattern observed is a range-bound consolidation followed by a potential bearish reversal triggered by a rejection from a key resistance zone. Trade Setup: Entry: A short entry can be considered at the current price level (around 0.85021-0.85129) or on a break below the immediate support level (0.84772). A more conservative approach would be to wait for a clear bearish candlestick pattern confirmation on a lower timeframe (e.g., H4 or H1). Stop Loss: The stop loss should be placed above the recent swing high (around 0.85867) to protect the trade from unexpected price reversals. Take Profit: The primary target is the lower support zone (around 0.82537-0.82218). An intermediate target can be set at the 0.83727 level. Risk-Reward Ratio: The potential trade offers a favorable risk-reward ratio, with a relatively small stop loss and a significant profit target.
Short
by ultreosforex
4
EUR/GBP Analysis Double Bottom Breakout Toward TargetOverview of the Chart This chart displays a EUR/GBP daily timeframe setup, highlighting a Double Bottom Pattern, a well-known bullish reversal formation. The pattern consists of two consecutive lows at a similar price level, followed by a breakout above a key resistance zone. This setup suggests a potential trend reversal from bearish to bullish. Technical Analysis Breakdown 1. Double Bottom Formation (Reversal Signal) Bottom 1: The first low was established after a prolonged downtrend, where the price found support and bounced higher. Bottom 2: Price revisited the same support area but failed to break lower, indicating that sellers are losing strength and buyers are stepping in. A double bottom pattern signals that the asset is forming a strong base and is likely to move higher after breaking the neckline (resistance level). 2. Support and Resistance Levels Support Level (~0.8322): This level acted as a demand zone, preventing further downside. It marks the price area where buyers accumulated positions, leading to a reversal. Resistance Level (~0.8500): This level previously acted as a supply zone, where sellers controlled the price. A breakout above this level is crucial to confirm the bullish trend continuation. 3. Breakout Confirmation & Retest Expectation The price successfully broke above the resistance zone, confirming a bullish reversal. A potential retest of the broken resistance (now turned support) could occur before further upside movement. Traders often wait for this retest to confirm that the breakout is genuine before entering a position. 4. Price Target Projection Based on the measured move strategy, the expected target is calculated by measuring the height of the double bottom pattern and projecting it above the breakout zone. Target Price: 0.8742, aligning with historical resistance levels. 5. Stop Loss Placement Stop loss at ~0.8322 (below the double bottom support). This ensures risk is managed in case of an invalid breakout or a false move. Trading Plan & Execution Strategy 📌 Entry Strategy: ✅ Breakout Entry: Buy after the breakout above resistance. ✅ Retest Entry: Wait for a pullback to the previous resistance (now support) before entering. 📌 Risk Management: 🔹 Stop Loss: Placed below the recent support at 0.8322 to limit downside risk. 🔹 Take Profit: First target at 0.8742 based on the double bottom structure. 📌 Market Outlook: A successful breakout and bullish momentum could push prices toward the target. If the price fails to hold above the breakout zone, a deeper retracement could occur before continuing higher. Conclusion The EUR/GBP pair has formed a bullish double bottom reversal pattern, signaling a potential uptrend continuation. The key levels to watch include 0.8500 (resistance turned support) and 0.8742 (target projection). Traders should monitor price action around the breakout zone for confirmation and consider risk management strategies before entering a position.
Long
by GoldMasterTrades
EURGBP is ready to take off ... the week of 07 Apr 2025Weekly chart – strongly bullish, broke above previous structure Daily chart – strongly bullish, broke above previous structure H4 chart – bullish, now pulling back towards previous resistance, now turned support. The formation of a higher low on the daily adds to my confidence that we are headed higher. This is actually a breakout-retest setup. When/If price reaches this zone, I will be monitoring PA on H4 and H1 timeframes with a view to find evidence of a bullish continuation. We could easily have a much deeper retracement too. In the current uncertain world economic situation, it is vital to establish that control of the market has returned to the bulls, before taking a trade. Stop may be larger than what I would like, but it will need to be below the nearest swing low. Target can be generous too – at 0.8613 or anywhere higher right up to 0.8750. This is not a trade recommendation; it’s merely my own analysis. Trading carries a high level of risk, only trade with money you can afford to lose and carefully manage your capital and risk. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Long
by Trading_Vista
EUR/GBP (1H) – Rising Wedge Breakdown & Short Trade Setup1. Overview of Market Structure The EUR/GBP pair is forming a Rising Wedge Pattern, a well-known bearish reversal formation, which suggests that the current uptrend may soon reverse into a downtrend. The price has been moving within a tightening range, making higher highs and higher lows, but the upward momentum appears to be weakening. A breakdown from this wedge is a strong bearish signal, indicating that sellers are gaining control, and a significant price drop is expected. 2. Chart Pattern: Rising Wedge – Bearish Reversal A Rising Wedge is a pattern that occurs when price moves upward within a contracting range. This pattern typically forms after an uptrend and suggests that bullish momentum is slowing down. Characteristics of the Rising Wedge in This Chart: The price has tested the upper resistance zone multiple times, but each attempt has resulted in a rejection. The lower support trendline has been tested frequently, showing that buyers are losing strength. The breakdown of the wedge signals a strong bearish move, with price expected to drop toward key support levels. This pattern becomes valid once the price breaks below the lower trendline, confirming the bearish outlook. 3. Key Technical Levels & Zones A. Resistance Zone (0.84853) – Strong Supply Area Marked as a Resistance Zone, where price has struggled to break through. Sellers have stepped in around this level multiple times, preventing any further bullish movement. Acts as a major stop-loss level for bearish trades, as a breakout above this zone could invalidate the setup. B. Support Zones (Potential Take-Profit Targets) 1st Support Level (TP1) – 0.82539 This level has previously acted as strong support, where buyers have entered the market before. A short-term pullback or consolidation may occur here. 2nd Support Level (TP2) – 0.81332 This is the final bearish target, marking a key demand zone from where price has bounced in the past. If bearish momentum continues, price could reach this level, making it an ideal take-profit zone for swing traders. 4. Trading Strategy & Execution A. Entry Strategy A short trade is ideal after the price breaks below the rising wedge pattern. There are two possible entries: Aggressive Entry: Enter immediately after the breakout of the lower trendline, anticipating strong downside momentum. Higher risk as price might retest the trendline before moving down. Conservative Entry: Wait for a retest of the broken trendline before entering short. This confirms the breakdown, reducing false breakout risks. B. Stop-Loss Placement Stop-loss should be placed just above the resistance zone (0.84853). This prevents being stopped out by minor pullbacks before the actual move happens. C. Take-Profit Targets TP1: 0.82539 (First major support level – potential profit booking area) TP2: 0.81332 (Final bearish target – strong demand zone) 5. Risk Management & Trade Management Risk-to-Reward Ratio (RRR) This trade offers a high RRR, making it an attractive setup. The stop-loss is small compared to the potential downside move. Trailing Stop Strategy A trailing stop can be used to lock in profits as price moves lower. If price reaches TP1, move stop-loss to breakeven to secure capital. If price reaches TP2, close the trade for maximum profit. Exit Strategy Exit early if price fails to break key support zones. Monitor price action around TP1 & TP2 for signs of reversal. 6. Sentiment Analysis & Market Context Bearish Confirmation: Breakdown from the wedge signals bearish sentiment in the market. If price fails to sustain above support zones, further downside is likely. News & Fundamentals: Major economic events or interest rate decisions could impact EUR/GBP volatility. Traders should check for UK & Eurozone news before entering the trade. 7. Conclusion – Bearish Outlook The Rising Wedge breakdown is a strong short-selling opportunity. Confirmation is key: Enter short after the breakdown, use proper risk management, and aim for TP1 & TP2. If price invalidates the pattern by breaking above 0.84853, the trade setup should be reconsidered. This setup provides a high-probability bearish trade with a well-defined stop-loss and risk-to-reward ratio.
Short
by GoldMasterTrades
EUR/GBP Triangle Pattern - Bearish Breakdown SetupProfessional Analysis of the EUR/GBP Chart This EUR/GBP (Euro/British Pound) daily chart from OANDA, published on April 3, 2025, highlights a key technical setup based on price action analysis, chart patterns, and support/resistance levels. 1. Market Context: Accumulation & Transition to a Triangle Pattern Curve Zone Formation (Rounded Bottom): The market initially exhibited a rounded bottom structure (curve zone) from July 2024 to February 2025, indicating a gradual accumulation phase. This phase often signals a shift in market sentiment, where sellers lose dominance, and buyers start stepping in. Breakout from Accumulation: After reaching the support zone (~0.8250 - 0.8300), price rebounded sharply in March 2025, confirming strong buyer interest. However, it failed to sustain upward momentum near the resistance zone (~0.8470 - 0.8500), leading to consolidation. 2. Formation of a Symmetrical Triangle Pattern Lower Highs & Higher Lows: Price action began forming a symmetrical triangle, a classic consolidation pattern that typically precedes a strong breakout. The market is currently trading near the apex of the triangle, indicating that a breakout is imminent. Potential Breakout Direction: Symmetrical triangles are neutral patterns, meaning they can break either upward or downward. However, the price structure and resistance rejection suggest a higher probability of a bearish breakdown. 3. Key Levels & Trading Setup Resistance & Support Zones: 🔴 Resistance Zone (~0.8470 - 0.8500): This area has repeatedly acted as strong resistance, where sellers have consistently pushed prices lower. A breakout above this zone would indicate a bullish invalidation of the current bearish bias. 🟢 Support Zone (~0.8250 - 0.8300): This level has held price multiple times, acting as key support. A break below this zone would confirm bearish momentum, targeting lower price levels. 4. Bearish Trade Setup 📉 Entry Strategy (Short Position): Wait for a confirmed breakout below the triangle’s lower trendline (~0.8320 - 0.8350). A retest of the broken support turning into resistance would provide the best short entry. 📌 Stop-Loss Placement (~0.84764): Positioned above recent highs and the resistance zone to minimize risk. This ensures the trade is protected against potential false breakouts. 🎯 Profit Target (~0.81190 - 0.81134): The projected move aligns with historical support levels, making it a logical target. This level represents a previous market structure where buyers stepped in. 5. Conclusion & Trade Considerations ✅ Bearish Bias: The price action and pattern suggest a higher probability of a downside breakout. ✅ Defined Risk & Reward: A well-structured stop-loss and target level ensures a solid risk management strategy. ✅ Watch for Confirmation: Traders should wait for a confirmed breakout before entering a trade to avoid false moves. 📊 Overall Verdict: A high-probability short setup is forming, with a clear entry, stop-loss, and take-profit strategy. If the market respects the triangle breakdown scenario, this could lead to a significant bearish move toward the 0.81190 target.
Short
by GoldMasterTrades