The market has formed a clear bearish harmonic pattern indicating a potential reversal. The descending trendline (in red) is acting as a strong resistance level. Price is currently retesting this zone, which has previously caused rejections.
Trade Setup:
Entry: Around 3358
Stop Loss: 3431
Take Profit 1: 3238
Take Profit 2: 3092
Take Profit 3: 2959
Risk/Reward Ratio: Greater than 1:3
This setup offers a strong short (sell) opportunity as the price approaches key resistance with signs of rejection.
Note: This analysis is for educational purposes only. Please do your own research before taking any trade.
Trade Setup:
Entry: Around 3358
Stop Loss: 3431
Take Profit 1: 3238
Take Profit 2: 3092
Take Profit 3: 2959
Risk/Reward Ratio: Greater than 1:3
This setup offers a strong short (sell) opportunity as the price approaches key resistance with signs of rejection.
Note: This analysis is for educational purposes only. Please do your own research before taking any trade.
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