EUR/USD has pushed into the upper boundary of the Keltner Channel on the 4H timeframe, indicating a potential exhaustion of bullish momentum. Price is showing signs of overextension with Heikin Ashi candles losing strength near a key resistance zone.
📉 Short Position Setup:
Entry: 1.17220 (near upper Keltner resistance)
SL: 1.17581 (above recent highs and volatility buffer)
TP: 1.15220 (targeting mid-channel and previous structure support)
🔻 Bearish Confluence:
Price rejecting upper Keltner band
Potential for mean reversion after strong rally
Weakening bullish momentum in candle structure
Confirmation with further bearish price action or divergence signals would strengthen the case for downside continuation.
📉 Short Position Setup:
Entry: 1.17220 (near upper Keltner resistance)
SL: 1.17581 (above recent highs and volatility buffer)
TP: 1.15220 (targeting mid-channel and previous structure support)
🔻 Bearish Confluence:
Price rejecting upper Keltner band
Potential for mean reversion after strong rally
Weakening bullish momentum in candle structure
Confirmation with further bearish price action or divergence signals would strengthen the case for downside continuation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.