Timeframe: 15 minutes
Direction: Long (Buy)
Entry Type: Limit Order
Risk-to-Reward Ratio: 2.9
Technical Context:
The trade is based on a clean bullish structure following a strong upward impulse. The pair broke above a significant resistance zone, which has now been re-tested as potential support. This zone aligns with a prior consolidation area and serves as a key decision level.
Entry Level:
A Buy Limit order is placed at 0.82162, anticipating a retracement into the broken resistance-turned-support zone.
Stop Loss:
Placed just below the lower boundary of the structure at 0.82037, accounting for potential volatility while maintaining structural invalidation.
Take Profit:
Targeting 0.82463, aligning with the upper boundary of the previous range and offering a favorable risk-to-reward profile of 2.9.
Trade Rationale:
This setup is designed to capitalize on a pullback within a strong intraday uptrend, taking advantage of market structure shifts. By waiting for price to return to a high-probability zone, the entry maximizes precision and minimizes drawdown.
Notes:
This trade was considered only after a successful earlier setup, reinforcing the psychological discipline of not overtrading. The entry is conditional—if price does not return to the desired level, the trade will be skipped, maintaining the quality-first approach.
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.