EURUSD 4H: SBR Zone Breakdown & Downward Channel and CHoCH
Key Technical Elements
Descending Channels & Trendlines: Two parallel, downward-sloping purple trendlines form a clear descending channel. Price has consistently respected the upper trendline as resistance, creating lower highs.
Support and Resistance Zones:
Resistance Zone 1: A major horizontal red block near the top ($1.1800 - $1.1850).
Resistance Zone 2: A secondary horizontal red block acting as a lower structural ceiling ($1.1600 - $1.1650).
SBR Zone (Support Becomes Resistance) / CHoCH: A gray horizontal band situated around the $1.1400 - $1.1450 area. This level previously acted as strong support during March and April but has recently experienced a "Breakout" to the downside.
Market Structure Indicators: The chart features labeled structural shifts, including multiple instances of BoS (Break of Structure) pointing to continued bearish momentum, and a CHoCH (Change of Character) near the recent breakdown level.
Projected Trade Setup
The chart outlines a classic bearish retest-and-continuation strategy indicated by the drawn blue paths:
The Breakout: Price recently accelerated sharply below the SBR Zone support.
Point of Interest (POI) & Retest: The blue arrow projects a short-term corrective rally back up to the POI (around $1.1425), retesting the newly broken SBR zone from underneath.
Risk Management Levels:
SL (Stop Loss): Marked by a horizontal red line just above the POI, roughly at $1.1460, invalidating the short idea if the price re-enters the old range.
Target (Take Profit): Marked by a horizontal teal line near the $1.1200 - $1.1225 macro liquidity level, representing the expected extension of the downward move.
Descending Channels & Trendlines: Two parallel, downward-sloping purple trendlines form a clear descending channel. Price has consistently respected the upper trendline as resistance, creating lower highs.
Support and Resistance Zones:
Resistance Zone 1: A major horizontal red block near the top ($1.1800 - $1.1850).
Resistance Zone 2: A secondary horizontal red block acting as a lower structural ceiling ($1.1600 - $1.1650).
SBR Zone (Support Becomes Resistance) / CHoCH: A gray horizontal band situated around the $1.1400 - $1.1450 area. This level previously acted as strong support during March and April but has recently experienced a "Breakout" to the downside.
Market Structure Indicators: The chart features labeled structural shifts, including multiple instances of BoS (Break of Structure) pointing to continued bearish momentum, and a CHoCH (Change of Character) near the recent breakdown level.
Projected Trade Setup
The chart outlines a classic bearish retest-and-continuation strategy indicated by the drawn blue paths:
The Breakout: Price recently accelerated sharply below the SBR Zone support.
Point of Interest (POI) & Retest: The blue arrow projects a short-term corrective rally back up to the POI (around $1.1425), retesting the newly broken SBR zone from underneath.
Risk Management Levels:
SL (Stop Loss): Marked by a horizontal red line just above the POI, roughly at $1.1460, invalidating the short idea if the price re-enters the old range.
Target (Take Profit): Marked by a horizontal teal line near the $1.1200 - $1.1225 macro liquidity level, representing the expected extension of the downward move.
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Free Forex signals & Daily updates 💹
t.me/+D1falYavqJAxMzE0
For any assistance contact us 🤓
t.me/Travis_816
Join Us Today On Telegram 👆👆
t.me/+D1falYavqJAxMzE0
For any assistance contact us 🤓
t.me/Travis_816
Join Us Today On Telegram 👆👆
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.