The price dropped to the support zone
. If we look at the previous market movements at this zone, we'll see 3 reversals with further upward movements. Now we should expect the same price action at this support. RSI
is in the oversold zone and it will give a good signal confirming price reversal. In order to join the possible upward movement after the reversal, we can place pending orders for buy above the high of the bearish
candle. It's 110.00 level. Stop orders should be placed below the local swing low. The profit targets can be at 112.00 and 114.00 levels. If the price breaks 109.00 level, we'll have to delete buy orders and wait for new trading opportunities.