$SKY $SKY 12h
- The overall trend is still bearish, but we are very close to a cluster of support and demand around 0.05542 and 0.05392, which could trigger a bounce or temporary reversal 🌊
- If price manipulates below 0.05392 and quickly reclaims 0.05542 with bullish confirmation (like a strong engulfing candle or reversal on lower timeframes), consider a long entry with targets at 0.05966 and 0.06475. Place your stop-loss at the swing low below the manipulation wick!
- If price bounces but faces strong rejection at 0.05966 or 0.06475 with clear bearish signs, a short position can be considered, with targets back toward 0.05542 and 0.05392. In this case, stop-loss should be above the swing high of the rejection candle
- If the price closes decisively above 0.06475 and holds above the equilibrium zone (0.05739), my bias could shift bullish, with a view to target the 0.07052 and 0.07753 levels
- Confirmation is key: Look for clear reversal candles (like pin bars, engulfing) or lower timeframe structure shifts before entering any trade setup
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