Very straightforward setup. We are currently in a bullish range on the weekly timeframe. There are few confluences pointing price in continued bullish bias. Price has dipped in to our Demand zone 119.38 - 118.78, so around 60 pips. Price action has tried to break this zone on two separate occasions but failed to do so. 3rd time lucky? I do not think so but never say never. I have entered a position at 119.45 and our TP is 121.00 with a roughly 50 pips SL.
Have a great trading week people and manage your risk in these volatile conditions!
Have a great trading week people and manage your risk in these volatile conditions!