Trade Setup
Duration: Intraday
Expires: 20/05/2025 15:00
Technical Overview
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
- Type: Sell Limit
- Entry: 0.5925
- Stop Loss: 0.6000
- Target: 0.5775
Duration: Intraday
Expires: 20/05/2025 15:00
Technical Overview
- Price action is sideways and indecisive, forming a congestion zone on the 4H chart.
- Pivot resistance sits at 0.5925 — a logical level for bearish entries.
- A move through 0.5875 would act as early confirmation of downside momentum.
- The measured move target from the range breakdown projects toward 0.5750; however, a more conservative exit is at 0.5775 for higher probability.
- Risk/reward is favourable when selling rallies into 0.5925 vs current market price.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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.