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1. Key Levels to Watch:
Supply Zone (Red Area): Around 2,623–2,626. Monitor this zone for bearish rejection or reversal signals (e.g., bearish engulfing or pin bar candles).
Demand Zone (Blue Area): Around 2,612–2,614. Watch for bullish reversal patterns or consolidation near this area.
2. Trade Scenarios:
Scenario 1: Short from the Supply Zone:
Wait for the price to approach the supply zone (2,623–2,626).
Look for bearish confirmation (e.g., a strong rejection or a shift in momentum).
Entry: Below 2,623 with confirmation.
Stop Loss: Above 2,626 (just outside the red zone).
Take Profit: Near the demand zone (2,614 or lower).
Scenario 2: Long from the Demand Zone:
If the price drops to the demand zone (2,612–2,614), watch for bullish confirmation.
Entry: Above 2,614 with a clear bullish signal.
Stop Loss: Below 2,612 (just outside the blue zone).
Take Profit: Near the supply zone (2,623 or higher).
Scenario 3: Breakout Play:
If the price breaks out strongly above the supply zone (2,626), consider a long trade after a retest of the breakout level.
Conversely, if it breaks below the demand zone (2,612), short after retest with targets toward the next support level.
3. Risk Management:
Use a risk-reward ratio of 1:2 or better.
Risk only a small percentage of your capital per trade (e.g., 1–2%).
4. Wait for Confirmation:
Do not trade based solely on entering the zone; wait for price action signals to confirm your bias.
This structured plan helps adapt to the market movements while minimizing risks.
1. Key Levels to Watch:
Supply Zone (Red Area): Around 2,623–2,626. Monitor this zone for bearish rejection or reversal signals (e.g., bearish engulfing or pin bar candles).
Demand Zone (Blue Area): Around 2,612–2,614. Watch for bullish reversal patterns or consolidation near this area.
2. Trade Scenarios:
Scenario 1: Short from the Supply Zone:
Wait for the price to approach the supply zone (2,623–2,626).
Look for bearish confirmation (e.g., a strong rejection or a shift in momentum).
Entry: Below 2,623 with confirmation.
Stop Loss: Above 2,626 (just outside the red zone).
Take Profit: Near the demand zone (2,614 or lower).
Scenario 2: Long from the Demand Zone:
If the price drops to the demand zone (2,612–2,614), watch for bullish confirmation.
Entry: Above 2,614 with a clear bullish signal.
Stop Loss: Below 2,612 (just outside the blue zone).
Take Profit: Near the supply zone (2,623 or higher).
Scenario 3: Breakout Play:
If the price breaks out strongly above the supply zone (2,626), consider a long trade after a retest of the breakout level.
Conversely, if it breaks below the demand zone (2,612), short after retest with targets toward the next support level.
3. Risk Management:
Use a risk-reward ratio of 1:2 or better.
Risk only a small percentage of your capital per trade (e.g., 1–2%).
4. Wait for Confirmation:
Do not trade based solely on entering the zone; wait for price action signals to confirm your bias.
This structured plan helps adapt to the market movements while minimizing risks.
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.
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.