EUR.USD - Sell - 15 mins
Idea Title: EUR/USD Short Position: Double Top Rejection and Liquidity Targeting
Market Context:
EUR/USD is presenting a bearish setup after a rejection from a significant resistance zone near 1.06100. A double-top formation has been identified, suggesting a reversal towards lower liquidity levels. The pair has failed to sustain higher highs, which aligns with a potential retracement towards the daily support.
Trade Setup Details:
Entry: 1.05839
Stop Loss (SL): 1.06102
Take Profit (TP): 1.05263
Technical Analysis:
Double Top Formation: Price action shows clear rejection from the resistance zone, forming a double top at 1.06100, a key reversal signal.
Key Resistance and Support Levels:
Resistance: 1.06100 marks the ADR+ level, a significant barrier for bulls.
Support Target: 1.05263 aligns with AMR- levels, a probable liquidity pool and the next logical target for sellers.
Bearish Momentum: Following the rejection from ADR+, bearish momentum is building, with candles showing strong downside intent.
Risk-to-Reward (R:R): This trade offers a favorable R:R ratio, targeting a high-probability zone while maintaining a tight stop loss.
Trade Justification:
The rejection from the key resistance zone, combined with a failure to establish new highs, signals potential downside movement.
Liquidity below 1.05300 and the AMR- level at 1.05263 make this a viable target area for bears to exploit.
Trading Plan:
Entry Trigger: Ensure price confirms rejection from 1.05839 with sustained bearish candles before entering.
Risk Management: The stop loss at 1.06102 is strategically placed above the double top, minimizing the risk of false breakouts.
Exit Strategy: Take profit at 1.05263, where the price is likely to face buyer interest or consolidation.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always perform your own due diligence and assess your risk before trading.
Market Context:
EUR/USD is presenting a bearish setup after a rejection from a significant resistance zone near 1.06100. A double-top formation has been identified, suggesting a reversal towards lower liquidity levels. The pair has failed to sustain higher highs, which aligns with a potential retracement towards the daily support.
Trade Setup Details:
Entry: 1.05839
Stop Loss (SL): 1.06102
Take Profit (TP): 1.05263
Technical Analysis:
Double Top Formation: Price action shows clear rejection from the resistance zone, forming a double top at 1.06100, a key reversal signal.
Key Resistance and Support Levels:
Resistance: 1.06100 marks the ADR+ level, a significant barrier for bulls.
Support Target: 1.05263 aligns with AMR- levels, a probable liquidity pool and the next logical target for sellers.
Bearish Momentum: Following the rejection from ADR+, bearish momentum is building, with candles showing strong downside intent.
Risk-to-Reward (R:R): This trade offers a favorable R:R ratio, targeting a high-probability zone while maintaining a tight stop loss.
Trade Justification:
The rejection from the key resistance zone, combined with a failure to establish new highs, signals potential downside movement.
Liquidity below 1.05300 and the AMR- level at 1.05263 make this a viable target area for bears to exploit.
Trading Plan:
Entry Trigger: Ensure price confirms rejection from 1.05839 with sustained bearish candles before entering.
Risk Management: The stop loss at 1.06102 is strategically placed above the double top, minimizing the risk of false breakouts.
Exit Strategy: Take profit at 1.05263, where the price is likely to face buyer interest or consolidation.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always perform your own due diligence and assess your risk before trading.
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