This trade setup captures a bearish reversal on the EUR/USD 4-hour chart. After a significant downward impulsive move, the price entered a consolidation phase, forming a series of lower highs against a clear ascending trendline.
The setup is triggered by a decisive break below the yellow diagonal support line, following a failed attempt to rally back into the overhead supply zone (the shaded grey area near 1.1480).
The setup is triggered by a decisive break below the yellow diagonal support line, following a failed attempt to rally back into the overhead supply zone (the shaded grey area near 1.1480).
Trade active
Trade closed: stop reached
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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.