The Euro thought it could sneak one past the quant crowd. It creeped up into 1.1690–1.1710, broke some weak highs, and even teased a breakout. Then boom! rejected harder than a dodgy NFT pitch in 2024.
We're inside a bearish channel, mid-supply zone, and price just faked out everyone chasing the highs. This is trap territory, and the sellers are circling like vultures.
Why This Zone?
- Bearish channel — structure holding strong
- Liquidity grab — swept the highs, printed a long upper wick
- SMMA resistance — price slammed into the dynamic ceiling
- Wick = trap — always a mood
This is where dumb money gets long. We don’t do that here.
Tap, Trap, Slap Trade Plan (Short Bias)
- Entry: 1.1695 (anywhere inside 1.1690–1.1710)
- Confirmation: 15M/1H bearish engulfing or rejection wick
- Stop Loss: Above 1.1725 (don't give it CPR)
- TP1: 1.1650 – first shelf of support
- TP2: 1.1610 – breakdown level
- TP3 (greedy target): 1.1585 macro demand where bulls reload
Staakd Rating: 7.5/10 Bearish Bias
- Structure
- Volume spike into supply
- Rejection wick
- Bullish continuation? Not yet, brotha!
Invalidation Level
If the 1H candle closes above 1.1725, I'm officially wrong. Close the trade. Don’t beg.
Bonus Stats
Supply rejections like this inside a defined channel with clean liquidity traps? these setups historically resolve short 65–70% of the time, assuming no news nukes the setup.
Are you shorting this trap? Already in from the wick? Or are you waiting for price to cough up another fake out? Let’s hear it. Drop your setups, throw your TPs in the chat, and may your drawdown be nonexistent.
We're inside a bearish channel, mid-supply zone, and price just faked out everyone chasing the highs. This is trap territory, and the sellers are circling like vultures.
Why This Zone?
- Bearish channel — structure holding strong
- Liquidity grab — swept the highs, printed a long upper wick
- SMMA resistance — price slammed into the dynamic ceiling
- Wick = trap — always a mood
This is where dumb money gets long. We don’t do that here.
Tap, Trap, Slap Trade Plan (Short Bias)
- Entry: 1.1695 (anywhere inside 1.1690–1.1710)
- Confirmation: 15M/1H bearish engulfing or rejection wick
- Stop Loss: Above 1.1725 (don't give it CPR)
- TP1: 1.1650 – first shelf of support
- TP2: 1.1610 – breakdown level
- TP3 (greedy target): 1.1585 macro demand where bulls reload
Staakd Rating: 7.5/10 Bearish Bias
- Structure
- Volume spike into supply
- Rejection wick
- Bullish continuation? Not yet, brotha!
Invalidation Level
If the 1H candle closes above 1.1725, I'm officially wrong. Close the trade. Don’t beg.
Bonus Stats
Supply rejections like this inside a defined channel with clean liquidity traps? these setups historically resolve short 65–70% of the time, assuming no news nukes the setup.
Are you shorting this trap? Already in from the wick? Or are you waiting for price to cough up another fake out? Let’s hear it. Drop your setups, throw your TPs in the chat, and may your drawdown be nonexistent.
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.