$IO
- Recovery from the demand zone with expansion potential 📈
$IO strongly defended the demand zone 0.159-0.166 after a deep sweep, and reshaped it by forming higher lows on the 4-hour timeframe 💪. The sharp wick towards 0.192 shows interest in the upside, while the current consolidation near 0.17-0.174 indicates absorption rather than rejection.
_Market Structure_:
- Strong defense of the demand zone
- Formation of higher lows on the 4-hour timeframe
- Bullish bias above support
_Trading Setup_:
- _Entry Zone_: 0.168 – 0.174 📍
- _Profit Targets_:
- _Target 1_: 0.182 🚀
- _Target 2_: 0.190 📈
- _Target 3_: 0.205 💥
- _Stop Loss_: 0.162 ⚠️
_Forecast_:
As long as the price remains above 0.166, the bias remains bullish. This type of bottom after selling often leads to a continuation of the upward movement if buyers remain active.
_Trading Tips_:
- _Discipline_: Trading should be done with restraint and adherence to the setup 📝.
- _Risk Management_: A stop loss should be set to protect capital ⚠️.
The currency shows potential for upside with the possibility of a strong upward movement 🚀.