๐ฏ Take Profit Targets: ๐ TP1: 1.07490 (First Support Level) ๐ TP2: 1.06966 (Extended Bearish Move)
๐ Risk-Reward Ratio Calculation ๐ Risk (SL Distance): 1.08377 - 1.07884 = 0.00493 risk per unit ๐ Reward to TP1: 1.07884 - 1.07490 = 0.00394 (1:0.8 R/R) ๐ Reward to TP2: 1.07884 - 1.06966 = 0.00918 (1:1.86 R/R)
๐ Technical Analysis & Strategy ๐ Bearish Trend Reversal: Price rejected at 1.08377 resistance, signaling a possible reversal. ๐ Rising Wedge Breakdown: Bearish wedge formation suggests further downside. ๐ Volume Confirmation Needed: Ensure strong selling volume below 1.07884 for momentum. ๐ Momentum Shift Expected: Staying below 1.07884 could push price to 1.07490, then 1.06966.
๐ Key Resistance & Support Levels ๐ด 1.08377 โ Stop-Loss / Resistance Level ๐ก 1.07884 โ Breakdown Level / Short Entry ๐ข 1.07490 โ First Support / TP1 ๐ข 1.06966 โ Final Target / TP2
๐ Trade Execution & Risk Management ๐ Volume Confirmation: Look for strong bearish volume below 1.07884 before entry. ๐ Trailing Stop Strategy: Move SL to entry (1.07884) after TP1 (1.07490) is hit.
๐ฐ Partial Profit Booking Strategy: โ Take 50% profits at 1.07490, let the rest run toward 1.06966. โ Adjust Stop-Loss to Break-even (1.07884) after TP1 is hit.
โ ๏ธ Fake Breakdown Risk โ If price reclaims 1.07884, exit early to limit losses. โ Wait for a strong bearish candle close before entering aggressively.
๐ Final Thoughts โ Bearish Setup โ Rejection at 1.08377 signals potential downside. โ Momentum Shift Possible โ Watch for volume confirmation. โ Risk-Reward Ratio โ Favorable 1:1.86 R/R to TP2. ๐ก Stick to the plan, manage risk, and trade smart! ๐๐ฅ
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