✅ Trend (HTF Bias)
D1 and H4 are likely bullish (based on prior swing structure and channel direction).
The price was respecting the ascending channel until this sharp breakdown.
✅ Countertrend
A rising wedge / ascending channel is clearly visible.
The recent impulse down broke structure cleanly — textbook countertrend break.
✅ Breakout
Price has broken below the lower ascending trendline.
It’s now retesting the zone at ~1.8700–1.8710 (highlighted).
If this retest holds, it’s a high-probability sell setup.
📊 Total Score: ~95% TCB Trade Quality
🧾 Execution Thoughts:
Entry: Current price (~1.8701) after retest rejection.
SL: Just above 1.8730–1.8740 (above retest wick).
TP: ~1.8675 zone (bottom of the zone), for ~2R.
🔔 Verdict:
✅ It’s a solid TCB setup: Retest after clean break of structure, inside HTF channel break, with decent R:R.
You may wait for a confirming bearish candle
Trigger: Wait for bearish engulfing / rejection wick confirmation.
D1 and H4 are likely bullish (based on prior swing structure and channel direction).
The price was respecting the ascending channel until this sharp breakdown.
✅ Countertrend
A rising wedge / ascending channel is clearly visible.
The recent impulse down broke structure cleanly — textbook countertrend break.
✅ Breakout
Price has broken below the lower ascending trendline.
It’s now retesting the zone at ~1.8700–1.8710 (highlighted).
If this retest holds, it’s a high-probability sell setup.
📊 Total Score: ~95% TCB Trade Quality
🧾 Execution Thoughts:
Entry: Current price (~1.8701) after retest rejection.
SL: Just above 1.8730–1.8740 (above retest wick).
TP: ~1.8675 zone (bottom of the zone), for ~2R.
🔔 Verdict:
✅ It’s a solid TCB setup: Retest after clean break of structure, inside HTF channel break, with decent R:R.
You may wait for a confirming bearish candle
Trigger: Wait for bearish engulfing / rejection wick confirmation.
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.
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.