Trade Setup: EUR/USD Analysis - Trendline play
I’ve entered a position at the 4-hour resistance, which aligns closely with the upward green trendline, providing a confluence of key levels. While the downward red trendline has been wicked above, there has yet to be a convincing candle close above it, suggesting potential continuation to the downside.
Stop Loss (SL): Positioned at the monthly resistance level, providing a strong buffer against potential upside risk.
Take Profit (TP): Set at the daily resistance, targeting a key level of support below.
I’ll monitor closely for a potential break or hold of these significant levels.
Stop Loss (SL): Positioned at the monthly resistance level, providing a strong buffer against potential upside risk.
Take Profit (TP): Set at the daily resistance, targeting a key level of support below.
I’ll monitor closely for a potential break or hold of these significant levels.
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