$FIL Trade Idea
After the sharp selloff toward 0.96, price is starting to stabilize around a clear support zone. I’m seeing buyers step in each time price taps this area, which suggests the market is attempting to form a short-term base. The selling pressure has slowed and momentum is beginning to cool off, creating conditions for a relief bounce.
What I’m watching here is the reaction inside the support band. When price drops aggressively into a level and then begins to hold it, that often signals exhaustion from sellers. If buyers keep defending this area, the market usually rotates upward toward the nearest liquidity and resistance zones.
This is why I’m interested in the bounce from this level — the downside risk is clearly defined while the upside targets sit above recent structure.
Trade Plan
Entry Zone:
0.96 – 0.98
Target Points:
TP1: 1.02
TP2: 1.08
TP3: 1.15
Stop Loss:
0.92
I’m taking this setup because the risk-to-reward is clean. The stop sits below the support where the idea becomes invalid, while the targets align with previous reaction zones and liquidity above. If buyers keep defending this level, a relief move into those areas is very possible.
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