EURUSD Longs - A grade setup blueprint
This time we are diving into an A grade setup that was presented to us on the 08/11/2023. After anticipating a bullish move from this exact zone marked out last Sunday's post. I will be breaking down what I would look for once price taps into our higher time frame POI (16hr demand zone on EU). At first I noticed that as price was slowing down momentum, wyckoff accumulation started to become more evident.
During the process of liquidating previous buyers, it changed character on the 10min which left a 5min OB that was unmitigated. From then, my SPRING was confirmed as well as my entry price. In addition to this, the order block was also in line with the 0.78 mark on the fib range and it was at a very discounted area hence why price was volatile as soon as it got tapped in.
As I also realised that price had filled the imbalance left from last Fridays NFP event, I knew price would want to continue in the trend it had set, which was a bullish order flow that consisted of higher highs and higher lows.
Lastly I would set my take profit target to be in areas of liquidity that price would attract to, and in this case it was the amount of untouched Asia highs that was left from previous days. However, I also realised that for price to move back down, it would need to mitigate a supply which was also left above the points of liquidity.
P.S. The mini equal lows that was swept was just extra confluence that price would react off my 5min OB that caused the CHOCH to happen, and because price had perpetual liquidity sweeps, I knew that there was minimal reversal magnets that could try interfere with our trade. Ultimately, this was why we was able to catch a 1:12 RR with basically ZERO DRAWDOWN...
During the process of liquidating previous buyers, it changed character on the 10min which left a 5min OB that was unmitigated. From then, my SPRING was confirmed as well as my entry price. In addition to this, the order block was also in line with the 0.78 mark on the fib range and it was at a very discounted area hence why price was volatile as soon as it got tapped in.
As I also realised that price had filled the imbalance left from last Fridays NFP event, I knew price would want to continue in the trend it had set, which was a bullish order flow that consisted of higher highs and higher lows.
Lastly I would set my take profit target to be in areas of liquidity that price would attract to, and in this case it was the amount of untouched Asia highs that was left from previous days. However, I also realised that for price to move back down, it would need to mitigate a supply which was also left above the points of liquidity.
P.S. The mini equal lows that was swept was just extra confluence that price would react off my 5min OB that caused the CHOCH to happen, and because price had perpetual liquidity sweeps, I knew that there was minimal reversal magnets that could try interfere with our trade. Ultimately, this was why we was able to catch a 1:12 RR with basically ZERO DRAWDOWN...
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