The market is currently in a downtrend, with lower highs and lower lows.
Price has reached a key support zone around 1.07841, showing signs of a potential bullish reversal.
A bullish recovery scenario is considered, as long as the support holds.
Trading Plan:
Bullish Scenario:
Entry Zone: Around 1.07841, waiting for bullish confirmation.
Target Levels:
TP1: 1.08182 (first resistance)
TP2: 1.08381 (higher structure level)
Bearish Alternative:
If the price breaks below the support, we could see further downside towards 1.07506 (SL) and lower.
️ Risk Management:
Stop-Loss: Placed at 1.07506, just below the support to minimize risk if the bullish scenario is invalidated.
Take-Profit: TP1 and TP2 are set based on key resistance levels.
Bias for the Day:
Slightly bullish – as long as the support holds, a reversal is likely.
Steps to follow:
Analyze yourself.
Take the position with SL and Take Profits.
Wait, it may take a couple of days, so take a break and step away from the screen from time to time, just like I do 🙂
Get the result.
I will update the trade every day.
Like, comment with your good mood or viewpoint, share with your circle. It’s together that we get stronger!
Good trades, Traders!
The golden bear