Looking at two potential ideas.
Either Short down to 0.594 after a 1H reversal within the marked supply zone. This would loos something like a push up inot the zone with a 1 hour failure to break the 0.65382 area and then a reversal breaking the newly formed 1h low. As marked in the red path tool.
Long opportunity would be if it breaks above the current daily high of 0.65382 then I would expect a retraceemnt to the current demand at 0.64505 to gather some liquidity to push to the upside.
I would wait for a 1H reversal within the demand zone to go long stop loss below the demand and target at recent highs.
SHORT :
Entry : TBC
SL : 0.65448
TP : 0.59780
LONG :
Entry : TBC
SL : 0.64022
TP : 0.69360
Either Short down to 0.594 after a 1H reversal within the marked supply zone. This would loos something like a push up inot the zone with a 1 hour failure to break the 0.65382 area and then a reversal breaking the newly formed 1h low. As marked in the red path tool.
Long opportunity would be if it breaks above the current daily high of 0.65382 then I would expect a retraceemnt to the current demand at 0.64505 to gather some liquidity to push to the upside.
I would wait for a 1H reversal within the demand zone to go long stop loss below the demand and target at recent highs.
SHORT :
Entry : TBC
SL : 0.65448
TP : 0.59780
LONG :
Entry : TBC
SL : 0.64022
TP : 0.69360
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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.