EURUSD | Major Trend Reversal in Play? Bias: Sell Setup🧠MJTrading:
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📝 Idea: PEPPERSTONE:EURUSD | Major Trend Reversal in Play?
Bias: Bearish (Sell Setup)
📊 Structure Breakdown
- After the 2022–25 High at 1.18300, price has started forming Lower Highs and a Lower Low, hinting at a potential Major Trend Reversal (MTR).
- The Pressure Gap and Pullback rejection around the descending trendline strengthen the bearish outlook.
- Current Price Action suggests sellers are gradually taking control inside the Rising Wedge inside the Descending Channel:
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A 2nd leg is also possible.
📌 Trade Setup
Sell Entry: Around current price (~1.16800–1.17000).
Stop Loss: Above 1.18020 (invalidates the setup).
Targets:
TP1 → 1.15520 (mid-channel support).
TP2 → 1.14300 (major support zone - Channel Bottom line).
TP3 → 1.11800 (extension, strong liquidity pool).
Risk–Reward: Attractive multi-level downside with clear invalidation.
For confirmation wait for valid breakdown from the Rising Wedge...
“If the structure speaks to you, let it echo.”
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