Market Overview:
The price has reached a significant demand zone (highlighted in gray), suggesting a potential reversal.
A strong rejection wick formed at the bottom, indicating that buyers are stepping in.
Previous bearish structure has led to liquidity grabs, potentially setting up a bullish move.
Trade Setup:
Entry: Long position from the demand zone (near 1.08128 - 1.08220).
Target: 1.08879 (first target) and 1.09462 (final target).
Stop-Loss: Below the demand zone (1.08220).
Risk-to-Reward: 1:3 or higher.
Confluences for the Trade:
Liquidity Sweep: The price took out lows before bouncing, suggesting smart money accumulation.
Bullish Order Block: Price has reacted to a previous institutional buying area.
Strong Rejection Candle: Indicates a potential shift in momentum from sellers to buyers.
Potential Fair Value Gap Fill: A blue box suggests an imbalance that price may look to correct.
Final Thoughts:
If bullish momentum sustains, we could see a strong rally toward 1.09462. However, a break below 1.08220would invalidate the trade setup. Trade with proper risk management.
🚀 Bullish Bias Until Proven Otherwise!
The price has reached a significant demand zone (highlighted in gray), suggesting a potential reversal.
A strong rejection wick formed at the bottom, indicating that buyers are stepping in.
Previous bearish structure has led to liquidity grabs, potentially setting up a bullish move.
Trade Setup:
Entry: Long position from the demand zone (near 1.08128 - 1.08220).
Target: 1.08879 (first target) and 1.09462 (final target).
Stop-Loss: Below the demand zone (1.08220).
Risk-to-Reward: 1:3 or higher.
Confluences for the Trade:
Liquidity Sweep: The price took out lows before bouncing, suggesting smart money accumulation.
Bullish Order Block: Price has reacted to a previous institutional buying area.
Strong Rejection Candle: Indicates a potential shift in momentum from sellers to buyers.
Potential Fair Value Gap Fill: A blue box suggests an imbalance that price may look to correct.
Final Thoughts:
If bullish momentum sustains, we could see a strong rally toward 1.09462. However, a break below 1.08220would invalidate the trade setup. Trade with proper risk management.
🚀 Bullish Bias Until Proven Otherwise!
Trade active
1:2 rr beak even Trade closed: stop reached
break even toutched
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.
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.