On the Weekly time frame, we have identified a Fair Value Gap (FVG) area below the current price, which acts like a magnet, suggesting a strong pull towards that level. Given the overall downtrend bias, this aligns with expectations of downward movement. On the lower time frame (15-minute), we observe two clear FVG areas, with liquidity accumulating around these zones. Based on this analysis, we anticipate a downward move from the FVG areas on the LTF. The optimal entry point is positioned at the mid-point of the FVG, with the stop-loss placed above the FVG. The target is set below the recent swing low, ensuring a favourable risk-to-reward ratio.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.