Trading Journal Entry – [12 May 2025]
Trade Setup:
Monitoring a potential buy opportunity around the 0.39000 level.
Rationale:
On the higher timeframes (Daily/Weekly), the 0.39000 zone stands out as a significant long-term support level. This area has historically acted as a strong demand zone, where price found solid buying interest and reversed to the upside. It represents a potential accumulation area, likely to attract institutional orders if retested.
The overall market structure suggests a mean-reverting behavior, and with price approaching the lower bounds of the historical range, this level could serve as a high-probability entry point for long positions, especially if supported by bullish confirmation on lower timeframes. Price action and momentum indicators will be monitored closely for signs of strength and reversal near this level.
Trade Setup:
Monitoring a potential buy opportunity around the 0.39000 level.
Rationale:
On the higher timeframes (Daily/Weekly), the 0.39000 zone stands out as a significant long-term support level. This area has historically acted as a strong demand zone, where price found solid buying interest and reversed to the upside. It represents a potential accumulation area, likely to attract institutional orders if retested.
The overall market structure suggests a mean-reverting behavior, and with price approaching the lower bounds of the historical range, this level could serve as a high-probability entry point for long positions, especially if supported by bullish confirmation on lower timeframes. Price action and momentum indicators will be monitored closely for signs of strength and reversal near this level.
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.