2 hours ago
This analysis presents a short setup idea based on retail trader sentiment and market structure. Currently, 62% of retail traders are positioned long, suggesting a contrarian approach. The recommended short entry is in the resistance zone between 1.0450 and 1.0460, once the price reaches this area. This zone aligns with the 61.8% Fibonacci retracement level, a key resistance level, and is also where the retail traders’ stop-losses are likely positioned, adding further confluence to the setup. The take-profit targets (TP1, TP2, and TP3) are aligned with key Fibonacci levels and market structure. The strategy aims to capitalize on the anticipated downward movement.