I identified this potential set-up 2 months back, then after realizing price action has been ranging, determined I should not trade this zone. After revisiting. I like the potential set-up again.
W Weekly Demand formed back in early Feb with USD shooting up last week, but now coming into the daily supply area
D New price action has formed since initial analysis, making lower highs, and slightly lower lows on the daily
240 Same nested area / top of daily applies (as an aside RSI was running very oversold for much of last week. Not a signal, but more of confirmation that price is ready for downside move. This gives me some more confidence in my initial analysis)
TP Price stalled for 4-5 days at this area. If trade is triggered, price will either shoot through higher, or drop with no demand until below 1.32. partial @ 3:1 final @ 8:1