CityTradersImperium_CTI

Climbing from Primary Supply to Upper Supply: wait for breakot

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FX:EURCAD   歐元 / 加元
Presently, the price is being held in check by the primary supply located on the left, effectively absorbing all the sell orders associated with it. Beyond this supply zone, there is a stretch of price compression extending up to the uppermost supply level. Consequently, if the price manages to break free from the current supply, it is highly likely that we'll observe a continued ascent towards the second supply at the pinnacle, spanning approximately 200 pips between these two supply levels. Should the price successfully breach the current supply, it would serve as a compelling reason to seek out a setup for a long position. This setup could materialize as a newly formed and robust demand zone that triggers the breakout. The target for this long position would be the supply at the top.

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