EURCAD - Sell Setup at Clear Resistance Zone

is approaching a significant resistance zone. This zone has consistently acted as a key area of interest where sellers regained control, leading to reversals. If the price confirms rejection through bearish price action, such as wicks signaling rejection, I anticipate a move downward toward the 1.49600 level.

However, if the price successfully breaks and holds above the zone, this would invalidate the bearish outlook and could open the door for further upside.

Proper risk management is essential, given the possibility of price breaking higher.

This is not financial advice but rather how I approach support/resistance zones. Always wait for confirmation, like a rejection candle or volume spike before jumping in. And let me know what you think of this setup in the comments!

Trade active

Note

I have secured it with a BE

Trade closed: target reached

TrendDiva

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TrendDiva

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