Market Overview:
The EUR/USD pair is showing an upward impulse followed by a downward correction. With a higher probability of continued upward movement, the focus will be on identifying high-quality trade setups to capitalize on this idea.
🎯 Key Zones for Long Positions:
IDM (Initial Drive Momentum):
A critical support zone where price may bounce or consolidate.
If the price breaks IDM with a full-bodied candle, the path to IDM OB (Order Block) opens up.
IDM OB (Order Block):
A strong demand zone that could act as a target for long trades.
Manipulation within Order Flow (OF):
Watch for price action around the ascending order flow zone. If liquidity builds before IDM and gets swept, long positions can be considered at these levels.
📉 Alternative Scenario (Bearish Bias):
If the price drops deeper, it may target the ascending order flow zone located below PDL (Point of Demand Level).
This scenario suggests a potential retest of lower support zones before any upward continuation.
📊 Trading Plan:
Primary Focus: Monitor the interaction with IDM liquidity.
Breakout above IDM: Look for long opportunities targeting IDM OB.
Liquidity Build-Up: If price consolidates and sweeps liquidity before IDM, consider long entries at these levels.
Secondary Focus: If the price falls deeper into the ascending order flow, wait for confirmation of a reversal or consolidation before entering long trades.
⚠️ Risk Management:
Stop-loss should be placed just below the nearest key level to minimize risk.
Position size should ensure risk does not exceed 1% of the trading capital .
🎯 Note: The market is dynamic, and the current structure may evolve. I will adapt to what the chart shows and focus on high-probability setups.
📢 Wishing everyone a profitable trading day!
The EUR/USD pair is showing an upward impulse followed by a downward correction. With a higher probability of continued upward movement, the focus will be on identifying high-quality trade setups to capitalize on this idea.
🎯 Key Zones for Long Positions:
IDM (Initial Drive Momentum):
A critical support zone where price may bounce or consolidate.
If the price breaks IDM with a full-bodied candle, the path to IDM OB (Order Block) opens up.
IDM OB (Order Block):
A strong demand zone that could act as a target for long trades.
Manipulation within Order Flow (OF):
Watch for price action around the ascending order flow zone. If liquidity builds before IDM and gets swept, long positions can be considered at these levels.
📉 Alternative Scenario (Bearish Bias):
If the price drops deeper, it may target the ascending order flow zone located below PDL (Point of Demand Level).
This scenario suggests a potential retest of lower support zones before any upward continuation.
📊 Trading Plan:
Primary Focus: Monitor the interaction with IDM liquidity.
Breakout above IDM: Look for long opportunities targeting IDM OB.
Liquidity Build-Up: If price consolidates and sweeps liquidity before IDM, consider long entries at these levels.
Secondary Focus: If the price falls deeper into the ascending order flow, wait for confirmation of a reversal or consolidation before entering long trades.
⚠️ Risk Management:
Stop-loss should be placed just below the nearest key level to minimize risk.
Position size should ensure risk does not exceed 1% of the trading capital .
🎯 Note: The market is dynamic, and the current structure may evolve. I will adapt to what the chart shows and focus on high-probability setups.
📢 Wishing everyone a profitable trading day!
Trade closed: target reached
The price did not reach my marked purchase zone , did not reach the intended target , and the short movement began as expected
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.