Price bounced strongly from a key demand zone near $107,200, showing buyer strength.
There is a clear bullish engulfing pattern forming at the support zone, indicating a potential reversal.
The volume spike at the bounce confirms buying interest.
The target zone aligns with the previous resistance near $108,630 to $109,219, making it a logical TP area.
The stop-loss level is placed just below the support, around $106,690 — a safe zone in case the setup fails.
This trade setup is technically sound and follows key price action principles:
Strong support → Bullish candle + volume → Recovery to resistance.
