Key Features of the Chart:
Short Position Tool Details:
Entry Point: 1.13211 – Price level where the short position is initiated.
Stop Loss: 1.13375 – Placed slightly above intermediate resistance to manage risk.
Take Profit: 1.12857 – Targeting a lower price level near a previous support zone.
Volume Profile Analysis:
The volume profile shows concentrated trading activity around key levels, indicating areas of interest for traders.
Volume distribution highlights potential price reversal zones, with weakening momentum below the current entry point.
Support and Resistance:
Resistance: 1.13375 – Acting as a cap on upward movement, providing a logical stop-loss placement.
Support: 1.12857 – Represents the take-profit target where buyers may re-enter the market.
Weak Support Zone: 1.13211 – Price is testing this level; a breakdown would confirm bearish momentum.
Short Position Analysis:
Bearish Setup: The short position tool aligns with the chart's bearish signals, targeting a key support zone at 1.12857.
Risk Management: The stop-loss placement ensures that risk is limited if the price retraces above the entry point and breaks through resistance at 1.13375.
Market Sentiment: The overall sentiment suggests sellers are gaining control, especially if price moves decisively below 1.13211.
Trading Plan:
Entry: Initiate the short position below 1.13211 after confirmation of a bearish breakdown (e.g., candlestick patterns or volume spike).
Exit Strategy: Take profit at 1.12857, or trail your stop-loss if bearish momentum accelerates.
Stop-Loss: Protect your position by placing the stop-loss at 1.13375 to minimize losses.
Closing Thoughts: This trade setup highlights a clear risk-to-reward ratio with well-defined levels. Watch for confirmation signals before entering the market to ensure the bearish momentum persists. As always, maintaining consistency, discipline, and perseverance will be key to navigating the EUR/USD market successfully.
Short Position Tool Details:
Entry Point: 1.13211 – Price level where the short position is initiated.
Stop Loss: 1.13375 – Placed slightly above intermediate resistance to manage risk.
Take Profit: 1.12857 – Targeting a lower price level near a previous support zone.
Volume Profile Analysis:
The volume profile shows concentrated trading activity around key levels, indicating areas of interest for traders.
Volume distribution highlights potential price reversal zones, with weakening momentum below the current entry point.
Support and Resistance:
Resistance: 1.13375 – Acting as a cap on upward movement, providing a logical stop-loss placement.
Support: 1.12857 – Represents the take-profit target where buyers may re-enter the market.
Weak Support Zone: 1.13211 – Price is testing this level; a breakdown would confirm bearish momentum.
Short Position Analysis:
Bearish Setup: The short position tool aligns with the chart's bearish signals, targeting a key support zone at 1.12857.
Risk Management: The stop-loss placement ensures that risk is limited if the price retraces above the entry point and breaks through resistance at 1.13375.
Market Sentiment: The overall sentiment suggests sellers are gaining control, especially if price moves decisively below 1.13211.
Trading Plan:
Entry: Initiate the short position below 1.13211 after confirmation of a bearish breakdown (e.g., candlestick patterns or volume spike).
Exit Strategy: Take profit at 1.12857, or trail your stop-loss if bearish momentum accelerates.
Stop-Loss: Protect your position by placing the stop-loss at 1.13375 to minimize losses.
Closing Thoughts: This trade setup highlights a clear risk-to-reward ratio with well-defined levels. Watch for confirmation signals before entering the market to ensure the bearish momentum persists. As always, maintaining consistency, discipline, and perseverance will be key to navigating the EUR/USD market successfully.
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.