Technical Analysis for EURUSD on July 8 (Supply and Demand)

Updated
Market Conditions:

  • Daily, H4, and H1 timeframes are showing an uptrend.
  • However, the M15 demand zone has been broken, and just above is the H4 supply zone.
  • This indicates a potential counter-trend setup as shown in the chart.
  • Exercise extreme caution as this is a counter-trend trade.
  • The expected R:R ratio for this trade is 1:1 to ensure safety.


Entry:
Enter short positions after the price touches the H4 supply zone.

Exit:
Take profits at the H1 demand zone, ensuring a 1:1 ratio for safety.

Recommendation:
Monitor the price movements closely and be prepared for potential fluctuations, adjusting your strategy as necessary. Given that this is a counter-trend trade, it's important to manage risk carefully and consider taking partial profits along the way.
Trade closed: target reached
Supply and Demand

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