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