AntaresScorpius
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Technical Analysis of the ChartHere are the key technical factors visible on the chart:Trendline Breakout: The price has broken the ascending blue trend line (dynamic support) downwards. The last red candlestick (marked with the S-Engulfing signal, or Bearish Engulfing) closed significantly below this line.Candlestick Pattern: A clear bearish transition can be seen at the latest highs. First, Dojis and an E-Star (Evening Star) formed on horizontal resistance, followed by the strong red body of the Engulfing pattern, confirming seller pressure.Volume/Strength Indicator (Bottom): The "Average Percentage of Buyers vs. Sellers" indicator shows the red line (sellers) and the green line (buyers) tightening and crossing near the midline (50.08 / 49.92). This indicates a loss of strength among buyers in favor of a recovery among sellers. Recommended action plan for Short To set up the position while reducing risk, you can follow this operational sequence: Wait for the retest (Optional but prudent): Often the price, after breaking a trendline, makes a brief upward bounce (pullback) to test the line just broken (which now acts as resistance). An optimal entry occurs if the price bounces off this line without breaking it. Stop Loss Placement: The stop loss must be placed strictly above the last relative high (the Doji/E-Star area at approximately 1.1450 - 1.1460) to protect capital from false breakouts. Target Price (Take Profit): The first volume and static targets are located on the previous lows identifiable in the chart: Target 1: Area 1.1400 (psychological support and the level of the lows marked by the previous B-Engulfing patterns). Target 2: Area 1.1370 - 1.1380, where the previous sharp decline stopped before the rebound.
