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