Direction: BUY / LONG (Pending Breakout & Retest) 📈
Trade Type: Breakout & Retest Confirmation
Entry Zone: ~1.34684 (After clear bullish breakout & pullback)
Take Profit 1 (TP1): 1.34800
Take Profit 2 (TP2): 1.35015 (Major Resistance Level)
Rationale & Technical Analysis:
- Breakout Strategy: Price is currently consolidating near local resistance (~1.34684 - 1.34700). A clean breakout above this structure confirms bullish momentum continuation.
- Support/Demand Flip: Upon a successful breakout, the previous resistance level around 1.34684 flips into a strong demand zone, providing a high-probability retest entry.
- Market Structure: The chart reflects a bullish trend structure with higher lows forming leading into the current resistance test.
- Target Alignment: The primary target at 1.35015 lines up with the significant high on the left side of the chart (key structural liquidity/resistance level).
⚠️ Disclaimer: This post is strictly for educational purposes and is NOT financial advice. Forex trading involves substantial risk of loss. Always manage your risk properly, wait for trade setups to confirm, and use appropriate stop losses.
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