🔍 Key Observations**
1️⃣ Market Structure**
- **Break of Structure (BOS)**:
- Multiple **BOS levels indicate an uptrend**, but recent bearish movement suggests a short-term retracement.
- **Change of Character (CHOCH)**:
- A recent CHOCH to the downside indicates a temporary shift in market sentiment.
- The price is currently reacting from an **equilibrium zone** after a retracement.
2️⃣ Liquidity Zones & Key Levels**
- **Previous Day’s High (PDH) & Previous Day’s Low (PDL)**:
- **PDH (~2.2100) is a potential liquidity target** if price moves bullish.
- **PDL (~2.1900) could act as a liquidity grab** if price moves lower before continuing up.
- **Premium & Discount Zones**:
- The **premium zone (above 2.2200)** is a potential area where price could face selling pressure.
- The **discount zone (below 2.1900)** could serve as a strong demand area for buy entries.
3️⃣ Smart Money Considerations**
- **Liquidity Grab Possibility**:
- If price **breaks below PDL (2.1900) and quickly rejects**, this could indicate smart money accumulation and a bullish move.
- If price **pushes up into the 2.2100-2.2200 premium zone**, it could be a strong area for shorting.
- **Equilibrium & Order Blocks**:
- Price is currently hovering around **equilibrium**, meaning it could either bounce or seek deeper liquidity before moving up.
- **A bullish reaction from equilibrium (2.1980 - 2.2000) could indicate continuation to PDH.**
4️⃣ Trade Setup Refinement**
📌 Bullish Scenario**
- **Entry Zone:** Between **2.1980 - 2.1900** (around equilibrium and demand zone).
- **Stop Loss (SL):** Below **2.1850** to protect against deeper retracements.
- **Take Profit (TP):** Around **2.2100 - 2.2200** (premium supply zone).
- **Risk-Reward Ratio:** **1:4+**, making it a high-probability setup.
📌 Bearish Scenario (If Price Rejects Premium Zone)**
- If price **pushes into 2.2100 - 2.2200** and shows **bearish rejection**, a short opportunity could emerge.
- **TP for shorts:** **2.1980 - 2.1900** (liquidity grab area).
- This would be a short-term trade within the overall bullish structure.
🔹 Final Thoughts**
✅ **Primary Bias:** **Bullish**, expecting price to hold above **equilibrium (2.1980 - 2.1900)** and push toward PDH.
✅ **Alternative Bias:** If price breaks below **2.1900**, wait for a liquidity grab before confirming a new bias.
✅ **Trade Plan:** Watch for bullish confirmation near **2.1980** for a buy setup.
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.