$FIL is trading around 1.135, down 7.57%. The recent decline shows strong selling pressure, and the 1.10–1.08 zone is worth monitoring for signs of support.
My focus is on whether buyers can hold this area and push price back toward 1.17. A break above 1.20 could improve the recovery setup, but continued selling below 1.08 would weaken the bullish scenario.
Trade Setup:
Entry Zone: 1.10–1.14
Take Profit 1: 1.17
Take Profit 2: 1.20
Stop Loss: 1.07
Patience matters here; I’d rather wait for confirmation than enter during uncontrolled selling.
My focus is on whether buyers can hold this area and push price back toward 1.17. A break above 1.20 could improve the recovery setup, but continued selling below 1.08 would weaken the bullish scenario.
Trade Setup:
Entry Zone: 1.10–1.14
Take Profit 1: 1.17
Take Profit 2: 1.20
Stop Loss: 1.07
Patience matters here; I’d rather wait for confirmation than enter during uncontrolled selling.