A clear breakdown of a previous support area, marked as "BOS" on the chart, signaling a shift in market structure. Resistance Zone:
A resistance area is highlighted in red. The price broke through this level, confirming the bearish momentum. Entry Strategy:
The chart suggests waiting for a pullback and retest of the resistance zone, around 0.66960, before entering a sell position. Stop Loss:
Positioned slightly above the resistance zone at 0.67156 to protect against false breakouts. Take Profit:
The target is set at 0.66350, which is a key support zone. Trade Setup Summary: Entry: After a pullback and retest around 0.66960. Stop Loss: At 0.67156 (just above resistance). Take Profit: At 0.66350 (next support level). This analysis reflects a bearish trend continuation, with the pullback and retest serving as a confirmation for entering the short (sell) position. The stop loss is strategically placed to manage risk, while the target aims for a reasonable profit margin.