The EURUSD is positioned to resume its downward trend after completing a major pullback on the 1HR chart, with confirmation across smaller timeframes.
📊 Multi-Timeframe Analysis:
1HR Chart: Major pullback complete
5Min Chart: Bearish wave structure complete
Signal: Secondary trend (correction) began yesterday
🔍 Setup Breakdown:
The Signal:
Price failed above an internal Momentum High on the 5-minute chart. This failure pattern always signals bearish momentum—buyers attempted to push higher but lacked conviction.
Wave Structure:
Downtrend established
Deep retracement completed
Corrective wave finished
Resumption pattern confirmed
Reference:
This setup was covered extensively in last week's major pairs analysis where I broke down the EURUSD structure in detail.
📈 Trade Details:
Entry: 1.1642
Stop Loss (Invalidation): 1.1655
Risk: 13 pips
Target: 1.1577 (T1 Key Ratio)
Potential: 65 pips
Risk:Reward: 5:1
Key Principle:
Deep retracements are normal in trending markets. The key is waiting for wave structure completion and failure patterns before entering the resumption trade.
This is mechanical trading. This is the WavesOfSuccess methodology.
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📊 Multi-Timeframe Analysis:
1HR Chart: Major pullback complete
5Min Chart: Bearish wave structure complete
Signal: Secondary trend (correction) began yesterday
🔍 Setup Breakdown:
The Signal:
Price failed above an internal Momentum High on the 5-minute chart. This failure pattern always signals bearish momentum—buyers attempted to push higher but lacked conviction.
Wave Structure:
Downtrend established
Deep retracement completed
Corrective wave finished
Resumption pattern confirmed
Reference:
This setup was covered extensively in last week's major pairs analysis where I broke down the EURUSD structure in detail.
📈 Trade Details:
Entry: 1.1642
Stop Loss (Invalidation): 1.1655
Risk: 13 pips
Target: 1.1577 (T1 Key Ratio)
Potential: 65 pips
Risk:Reward: 5:1
Key Principle:
Deep retracements are normal in trending markets. The key is waiting for wave structure completion and failure patterns before entering the resumption trade.
This is mechanical trading. This is the WavesOfSuccess methodology.
👍 Hit the boost button if you found this valuable
👤 Follow for more wave structure breakdowns
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