THEFOREXADVENTURES | EURUSD BULLISH STRUCTURE HELLO FELLOW TRADERS,
I'm taking a look at the Euro/USD pair on the 4-hour timeframe. As you can see, the price has been consolidating around defined demand zone for the past few days. This zone is marked by a horizontal pink rectangle.
Within this zone, we've seen a clear descending channel forming, indicating potential downward pressure. However, the price has recently breakout descending channel , suggesting a possible reversal.
Now, here's where it gets interesting. at the moment market running around our demand zone if we find any confirmation it could signal a significant bullish move. here any confirmation would confirm a potential change in market sentiment and could lead to further upward momentum.
Therefore, I'm closely watching the price action around the Demand zone. If I find confirmation, I'll be looking to enter a long position with a stop-loss below the Demand zone and a take-profit target towards the next Supply zone.
RISK MANAGEMENT: Emphasize the importance of risk management and using stop-loss orders to protect your capital.
I hope this analysis provides you with some valuable insights. Feel free to share your thoughts and opinions in the comments section below.
HAPPY TRADING!
