🔍 Key Observations**
1️⃣ Market Structure**
- The market has been in a clear **bullish trend**, with multiple **BOS (Break of Structure) levels** confirming higher highs and higher lows.
- **CHOCH (Change of Character)** to the upside suggests a shift from a previous bearish sentiment to a bullish one.
- The price is currently in a **retracement phase** after hitting a short-term high.
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2️⃣ Supply & Demand Zones**
- **Premium Zone (Above 1.05782)**:
- A **strong supply zone** is present in the premium pricing area.
- If price pushes into this area, it could act as a **reversal zone** for short opportunities.
- **Discount Zone (Below 1.03000)**:
- A strong **demand zone** exists in the lower region.
- If price retraces into this zone, it could be a high-probability long entry.
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3️⃣ Liquidity Considerations**
- **Previous Day's High (PDH) & Previous Day's Low (PDL)**:
- **PDH is acting as resistance**, meaning liquidity could be resting above this level.
- **PDL is a key area to watch**, as price might drop below it to grab liquidity before continuing higher.
- **Potential Liquidity Grab**:
- If price sweeps the **PDH**, it could induce **short positions** from late buyers before reversing downward.
- Alternatively, if price taps into the **PDL** or equilibrium zone, it might induce buy orders before rallying again.
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4️⃣ Trade Setup Refinement**
📌 Bullish Scenario**
- **Entry Zone:** Between **1.0430 - 1.0460** (Near PDL & Equilibrium).
- **Stop Loss (SL):** Below **1.0400** to protect against deeper pullbacks.
- **Take Profit (TP):** Around **1.05782**, aligning with the **premium zone & supply area**.
- **Risk-Reward Ratio:** **1:3+**, making it a high-probability trade.
📌 Bearish Scenario (If Price Breaks Below PDL)**
- If **PDL is broken and price fails to bounce**, it could indicate a move toward the **discount zone (~1.03000)**.
- A bearish confirmation (such as a BOS to the downside) would suggest further downside.
Final Thoughts
✅ **Primary Bias:** Bullish, expecting a dip into the **equilibrium zone (~1.0430)** before resuming upward.
✅ **Alternative Bias:** If price breaks **below 1.0400**, the next buy zone is **1.03000 or lower**.
✅ **Trade Plan:** Watch for a liquidity grab at **PDL** before confirming a long entry.
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.