$EUL has just seen a long liquidation at $1.40618, which tells me weak long positions were forced out of the market. These liquidity sweeps often clear excessive leverage and can create an opportunity for a rebound if buyers step back in. The price is now sitting near an area where I want to see demand return before considering a long position.
I'm looking for an entry only if EUL holds above the current support zone and starts printing higher lows. A successful defense of this area could push the price back toward the nearest resistance levels. If support fails, I'll stay out and wait for a better structure rather than forcing a trade.
EP: $1.3950 – $1.4100
TP: $1.4450 | $1.4850 | $1.5300
SL: $1.3650
This setup is based on the recent liquidation, current price structure, and nearby technical support. Wait for confirmation before entering and always manage your risk.
