EURUSD 4H Range – Waiting for Support Break and Pullback On the 4H timeframe, EURUSD is currently trading at 1.14150, with the key resistance level above at 1.14727.
The range structure is intact. I am not selling at current levels. I am waiting for a confirmed breakdown below the key support at 1.13967 first. After a clean 4H close below this level, I will wait for a pullback to the broken level to enter a short position.
Key Levels:
Current Price: 1.14150
Resistance: 1.14727
Support (Breakdown Level): 1.13967
Support Targets: 1.13615 and 1.13261
Trade Plan – Short Setup (After Breakdown + Pullback):
Step 1: Wait for price to break below 1.13967 with a clean 4H candle close.
Step 2: Wait for price to pull back to the broken level (1.13967) and show bearish confirmation.
Step 3: Enter short on confirmation.
Entry: After bearish confirmation from the retest of 1.13967
Stop Loss: Above 1.14150
Take Profit 1: 1.13615
Take Profit 2: 1.13261
Invalidation: Price closes back above 1.14150
Pro Tips:
1. Do not short inside the range. Wait for the breakdown first.
2. Do not chase the breakdown. Wait for the retest.
3. The pullback to the broken level gives a much better entry.
My Personal View:
Price is at 1.14150. I am not selling here. I will wait for a breakdown below 1.13967, then a pullback, then short toward 1.13615 and 1.13261. Patience is key.
Not financial advice. Trade at your own risk.
Tags: EURUSD, Forex, Range, Breakdown, Pullback, SupportAndResistance, PriceAction, TradingView
Short
