Supply Zone: The area between 1.26450 and 1.26500 represents a potential demand zone, likely to act as a support level.
Price Action: The price has retraced after an upward movement, indicating a possible retest of the support zone.
Bullish Signal: The arrow suggests that you anticipate the price will bounce from this zone and continue upward.
Key Considerations:
Entry Point: Look for bullish candlestick patterns (like a pin bar or engulfing candle) within or near the marked supply zone to confirm an upward move.
Stop-Loss: Place below the lower end of the demand zone to minimize risk.
Take-Profit: Target the next significant resistance level or recent swing high near 1.27100-1.27300.
Price Action: The price has retraced after an upward movement, indicating a possible retest of the support zone.
Bullish Signal: The arrow suggests that you anticipate the price will bounce from this zone and continue upward.
Key Considerations:
Entry Point: Look for bullish candlestick patterns (like a pin bar or engulfing candle) within or near the marked supply zone to confirm an upward move.
Stop-Loss: Place below the lower end of the demand zone to minimize risk.
Take-Profit: Target the next significant resistance level or recent swing high near 1.27100-1.27300.
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.
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.