EURUSD SHORTEUR/USD Short Trade Setup
Market Structure & Analysis
• The price is moving inside a parallel channel, showing a range-bound market.
• Resistance zone (Upper boundary) has been tested multiple times and rejected.
• The price is now approaching the upper trendline, indicating a potential short opportunity.
Trade Idea
• Entry: Look for bearish confirmation at the resistance zone.
• Stop Loss: Above the previous swing high.
• Take Profit: Lower boundary of the channel (support area).
• Confirmation: Bearish candlestick patterns (e.g., pin bar, engulfing) near resistance.
This trade setup follows a range trading strategy, where price is expected to move within the channel unless a breakout occurs. If the price breaks and closes above resistance, the setup becomes invalid.