Description
⋅ This idea is based on my understanding of order flow.
A significant rally allowed me to define a demand zone where open buy orders are left over (blue zone).
If the price moves down to our demand zone, we can expect a bouncek as there are still open buy orders in the zone that are now triggered.
I am looking for my target on the last supply zone which is exactly before the significant drop. Thats good for the idea!
If the supply zone breaks, we can go for the second target. Important: Only if supply zone breaks!
The second target will be the supply zone 2.
Infos about the Trade:
Entry: 0.89172
SL: 0.88872
TP1: 0.91272
TP2: 0.92648
Risk: 30 Pips
Reward TP1: 210 Pips
Reward TP2: 345 Pips
Risk/Reward ratio: 7.0
Use proper money management!
I recoment to risk max 2% of your entire balance if it hits SL.
Happy trading!
I'll keep you up to date and give trade updates. Stay tuned!