๐ฏ Take Profit Targets: ๐ TP1: 1.06823 (First Support Level) ๐ TP2: 1.06364 (Extended Bearish Move)
๐ Risk-Reward Ratio Calculation ๐ Risk (SL Distance): 1.07740 - 1.07436 = 0.00304 risk per unit ๐ Reward to TP1: 1.07436 - 1.06823 = 0.00613 (1:2.02 R/R) ๐ Reward to TP2: 1.07436 - 1.06364 = 0.01072 (1:3.52 R/R)
๐ Technical Analysis & Strategy ๐ Bearish Trend Reversal: Price shows rejection at 1.07740 resistance, signaling a potential reversal. ๐ Rising Wedge Breakdown: A rising wedge pattern is forming, a bearish signal indicating further downside. ๐ Volume Confirmation Needed: Ensure high selling volume when price moves below 1.07436 for strong bearish momentum. ๐ Momentum Shift Expected: If price remains below 1.07436, it could fall toward 1.06823, and further to 1.06364.
๐ Key Resistance & Support Levels ๐ด 1.07740 โ Stop-Loss / Resistance Level ๐ก 1.07436 โ Breakdown Level / Short Entry ๐ข 1.06823 โ First Support / TP1 ๐ข 1.06364 โ Final Target / TP2
๐ Trade Execution & Risk Management ๐ Volume Confirmation: Ensure high selling volume below 1.07436 before entering. ๐ Trailing Stop Strategy: Move SL to entry (1.07436) after TP1 (1.06823) is hit.
๐ฐ Partial Profit Booking Strategy: โ Take 50% profits at 1.06823, let the rest run toward 1.06364. โ Adjust Stop-Loss to Break-even (1.07436) after TP1 is reached.
โ ๏ธ Fake Breakdown Risk โ If the price fails to hold below 1.07436 and moves back up, exit early to avoid losses. โ Wait for a strong bearish candle close below 1.07436 before entering aggressively.
๐ Final Thoughts โ Bearish Setup โ Rejection at 1.07740 resistance suggests potential downside. โ Momentum Shift Possible โ Watch for volume confirmation. โ Favorable Risk-Reward Ratio โ 1:2.02 to TP1, 1:3.52 to TP2.
๐ก Stick to the plan, manage risk, and trade smart! ๐๐ฅ
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