The pair recently breached a Daily Supply Zone (D1 SZ) with a candle body, signaling bullish strength. However, price is currently pulling back, and a deeper retracement toward the Daily Demand Zone (D1 DZ) is possible before the next leg up.
📊 Key Observations:
✔ Break of Structure (BoS): Confirmed bullish intent.
✔ Fibonacci Confluence: The 0.786–0.88 retracement zone aligns with the D1 DZ, making it a high-probability reaction zone.
✔ Expected Move: Potential bearish retracement before a strong push toward new highs.
🔎 Trade Idea: Monitoring for bullish confirmation at the D1 DZ before entering long positions. A clean rejection could signal a strong continuation to the upside.
📊 Key Observations:
✔ Break of Structure (BoS): Confirmed bullish intent.
✔ Fibonacci Confluence: The 0.786–0.88 retracement zone aligns with the D1 DZ, making it a high-probability reaction zone.
✔ Expected Move: Potential bearish retracement before a strong push toward new highs.
🔎 Trade Idea: Monitoring for bullish confirmation at the D1 DZ before entering long positions. A clean rejection could signal a strong continuation to the upside.
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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.
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.