Long Ucad
pending buy limit placed (new york session 5/20/20) at (1.38900)
stop loss: 1.38392 (-50 pips)
TP1: (1.40100) (+120 pips)
Final Target: 1.40900) (+200 pips)
Demand Zone: (1.3900-3855)
Resistance zone:1.411
R:R:R= 4/1
Confirmations:
1. current price is in demand zone and has withheld as level of support since the beginning of april. level has been tested three prior times and has had strong bullish momentum pushes as result.
2.price has formed a 1h (hourly time frame) support within the demand zone with several clear rejections to the downside where bears have tried to push down but are being immediately rejected by the bulls.
3. Current market conditions is a ranging market with a strong bullish moves from price levels when withheld as support and with rejection levels being show entry around current price allows entry for structural stop loss below Aprils lows.
stop loss: 1.38392 (-50 pips)
TP1: (1.40100) (+120 pips)
Final Target: 1.40900) (+200 pips)
Demand Zone: (1.3900-3855)
Resistance zone:1.411
R:R:R= 4/1
Confirmations:
1. current price is in demand zone and has withheld as level of support since the beginning of april. level has been tested three prior times and has had strong bullish momentum pushes as result.
2.price has formed a 1h (hourly time frame) support within the demand zone with several clear rejections to the downside where bears have tried to push down but are being immediately rejected by the bulls.
3. Current market conditions is a ranging market with a strong bullish moves from price levels when withheld as support and with rejection levels being show entry around current price allows entry for structural stop loss below Aprils lows.
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