📉 Pattern & Market Structure:
The chart shows an ascending channel that was previously supporting price action. However, the price has broken below the lower trendline, confirming a bearish breakdown.
The recent price action suggests a shift from bullish momentum to bearish sentiment.
📉 Price Action & Target:
A breakdown from the channel suggests further downside movement.
The price is currently around 1.07556, with a potential target of 1.05089 based on the measured move from the broken channel.
This target aligns with a key support level.
đź“Ś Trading Plan:
Bears may look for sell opportunities below 1.07602.
Confirmation of further downside can be seen if the price stays below previous support-turned-resistance levels.
Bulls might wait for a potential reversal near the target zone.
⚠️ Risk Management:
Watch for pullbacks or retests of the broken support before entering a short position.
A break back above 1.08765 could invalidate the bearish setup.
The chart shows an ascending channel that was previously supporting price action. However, the price has broken below the lower trendline, confirming a bearish breakdown.
The recent price action suggests a shift from bullish momentum to bearish sentiment.
📉 Price Action & Target:
A breakdown from the channel suggests further downside movement.
The price is currently around 1.07556, with a potential target of 1.05089 based on the measured move from the broken channel.
This target aligns with a key support level.
đź“Ś Trading Plan:
Bears may look for sell opportunities below 1.07602.
Confirmation of further downside can be seen if the price stays below previous support-turned-resistance levels.
Bulls might wait for a potential reversal near the target zone.
⚠️ Risk Management:
Watch for pullbacks or retests of the broken support before entering a short position.
A break back above 1.08765 could invalidate the bearish setup.
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.