EUR/USD Long Trade Setup - 30 Minute Timeframe
🔍 Setup Breakdown:
Downtrend observed with a break of the descending trendline.
Expecting a retracement to previous support levels around 1.1076 for an entry.
Entering long after confirmation at the retracement level, targeting multiple take profit (TP) levels.
🎯 TP Levels:
TP 1: 1.10864
TP 2: 1.11143
TP 3: 1.11437
TP 4: 1.11650
TP 5: 1.11973
💡 Strategy: Entry Condition: The price must close above the specified entry point on a 30-minute candlestick chart.
Retracement and Entry: Following the close above the entry point, monitor for a retracement back to the entry level. Once the price returns to this level, initiate a trade at the new resistance level (which corresponds to the initial entry point).
🛑 Stop Loss: Below 1.10500 to manage risk.
Downtrend observed with a break of the descending trendline.
Expecting a retracement to previous support levels around 1.1076 for an entry.
Entering long after confirmation at the retracement level, targeting multiple take profit (TP) levels.
🎯 TP Levels:
TP 1: 1.10864
TP 2: 1.11143
TP 3: 1.11437
TP 4: 1.11650
TP 5: 1.11973
💡 Strategy: Entry Condition: The price must close above the specified entry point on a 30-minute candlestick chart.
Retracement and Entry: Following the close above the entry point, monitor for a retracement back to the entry level. Once the price returns to this level, initiate a trade at the new resistance level (which corresponds to the initial entry point).
🛑 Stop Loss: Below 1.10500 to manage risk.
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