Price is approaching a key resistance zone and liquidity pocket around 1.6060–1.6076, forming a potential lower high setup under a descending trendline.
🔍 Setup Breakdown:
Multiple equal highs (liquidity target) at resistance zone.
Structure suggests a fake breakout followed by sharp rejection.
Targeting support zone at 1.5937 and possibly deeper to 1.5895.
📊 Technical Outlook:
Expectation: Price grabs liquidity → fails to break above → bearish reversal.
Clean range-bound structure gives high R:R potential on short entries.
Confluence of resistance + trendline rejection = high-probability zone.
Bias: Bearish after liquidity sweep
Sell Zone: 1.6060–1.6080
Target Zone: 1.5937 → 1.5895
Invalidation: Strong close above 1.6085
#EURCAD #ForexAnalysis #SmartMoneyConcepts #PriceAction #LiquidityHunt #BearishSetup #FXTrading #TradingViewIdeas #SwingTrade
🔍 Setup Breakdown:
Multiple equal highs (liquidity target) at resistance zone.
Structure suggests a fake breakout followed by sharp rejection.
Targeting support zone at 1.5937 and possibly deeper to 1.5895.
📊 Technical Outlook:
Expectation: Price grabs liquidity → fails to break above → bearish reversal.
Clean range-bound structure gives high R:R potential on short entries.
Confluence of resistance + trendline rejection = high-probability zone.
Bias: Bearish after liquidity sweep
Sell Zone: 1.6060–1.6080
Target Zone: 1.5937 → 1.5895
Invalidation: Strong close above 1.6085
#EURCAD #ForexAnalysis #SmartMoneyConcepts #PriceAction #LiquidityHunt #BearishSetup #FXTrading #TradingViewIdeas #SwingTrade
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.