Price has retraced into a clearly defined demand zone on the 1H chart, showing signs of potential bullish reversal. The highlighted area marks a strong support level where buyers previously stepped in. A bullish reaction from this zone is anticipated, supported by the upward arrow projection.
Three target levels are outlined above, representing potential resistance zones and profit-taking areas. This setup favors a long position with tight risk management below the demand zone.
Three target levels are outlined above, representing potential resistance zones and profit-taking areas. This setup favors a long position with tight risk management below the demand zone.
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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.