Sterling bouncing on Demand zone
Hey everyone
lets buy the bottom of the range ! :)
We could observe a nice confluence of support :
At first Price bounced on the Demand zone forming a double bottom in lower TF(we can notice it in 1h TF as well)
now it broke the neckline of the DB (1) + the trendline (2).
The EMA's 10 and 20 are now acting as support, and are ready to cross bullish (3 and 4)
This means there is 4 supports here on the 1.19600 lvl which mean there is an optimal entry around here
Also considering price action : The last candle was a bullish marabuzu bar
( a reliable price action pattern with high winning rate).
Therefore this is why personally i think i could enter here with a tight stop loss and aim for the top of the range with several partial profit along the way.
People with more risk aversion would set their SL below the demand zone
Give a thumbs up if you agree
lets buy the bottom of the range ! :)
We could observe a nice confluence of support :
At first Price bounced on the Demand zone forming a double bottom in lower TF(we can notice it in 1h TF as well)
now it broke the neckline of the DB (1) + the trendline (2).
The EMA's 10 and 20 are now acting as support, and are ready to cross bullish (3 and 4)
This means there is 4 supports here on the 1.19600 lvl which mean there is an optimal entry around here
Also considering price action : The last candle was a bullish marabuzu bar
( a reliable price action pattern with high winning rate).
Therefore this is why personally i think i could enter here with a tight stop loss and aim for the top of the range with several partial profit along the way.
People with more risk aversion would set their SL below the demand zone
Give a thumbs up if you agree
Handel aktiv
Kommentera:
Kommentera:
TP1 hit
Kommentera:
hit 1:6 then touched my stop loss at breakeven
