🔍 Key Observations**
1️⃣ Market Structure**
- **Strong Uptrend:** The market has been making **higher highs (HH) and higher lows (HL)**, indicating bullish momentum.
- **Break of Structure (BOS):** Multiple **BOS levels confirm** that buyers are still in control.
- **Change of Character (CHOCH):** A minor CHOCH is visible at the recent high, indicating a potential retracement before continuation.
2️⃣ Liquidity Zones & Key Levels**
- **Previous Day’s High (PDH):** The price recently tapped the **PDH** before showing signs of retracement.
- **Previous Day’s Low (PDL):** This level at **1.2560** could act as a liquidity grab if price retraces lower before another bullish push.
- **Equilibrium Zone:** The market is currently trading near the **mid-range equilibrium zone**, meaning it could still retrace into a discount zone before continuation.
3️⃣ Smart Money Considerations**
- **Liquidity Grab Possibility:**
- If price sweeps the **PDL (1.2560 area)** and reacts, it could be a prime long entry point.
- If price retests the **recent supply zone (~1.2650-1.2670)** and rejects, it could trigger a short-term bearish move.
- **Demand Zones (Buying Opportunities):**
- A key demand area lies **between 1.2550 - 1.2580**, which could serve as a re-entry point for longs.
- **Premium & Discount Zones:**
- The **discount area (below 1.2500)** could provide a stronger bullish reaction.
- The **premium supply area (~1.2700-1.2750)** could act as a strong resistance if price continues rallying.
4️⃣ Trade Setup Refinement**
📌 Bullish Scenario**
- **Entry Zone:** Between **1.2580 - 1.2600** (at demand zone).
- **Stop Loss (SL):** Below **1.2550** to protect against further downside.
- **Take Profit (TP):** Around **1.2700 - 1.2750** (Premium Zone/Supply Area).
- **Risk-Reward Ratio:** **1:4+**, making this a high-probability long setup.
📌 Bearish Scenario (If Supply Holds)**
- If price **rejects 1.2650-1.2670**, short opportunities could emerge targeting **1.2580 or lower**.
- A **break of PDL (1.2560) with strong bearish confirmation** could signal a deeper correction.
🔹 Final Thoughts**
✅ **Primary Bias:** Bullish, expecting a retracement into the **demand zone (1.2580-1.2600)** before another rally.
✅ **Alternative Bias:** If price rejects **1.2650-1.2670**, a short-term sell opportunity could play out.
✅ **Trade Plan:** Look for a liquidity grab at **PDL** before confirming a long position.
1️⃣ Market Structure**
- **Strong Uptrend:** The market has been making **higher highs (HH) and higher lows (HL)**, indicating bullish momentum.
- **Break of Structure (BOS):** Multiple **BOS levels confirm** that buyers are still in control.
- **Change of Character (CHOCH):** A minor CHOCH is visible at the recent high, indicating a potential retracement before continuation.
2️⃣ Liquidity Zones & Key Levels**
- **Previous Day’s High (PDH):** The price recently tapped the **PDH** before showing signs of retracement.
- **Previous Day’s Low (PDL):** This level at **1.2560** could act as a liquidity grab if price retraces lower before another bullish push.
- **Equilibrium Zone:** The market is currently trading near the **mid-range equilibrium zone**, meaning it could still retrace into a discount zone before continuation.
3️⃣ Smart Money Considerations**
- **Liquidity Grab Possibility:**
- If price sweeps the **PDL (1.2560 area)** and reacts, it could be a prime long entry point.
- If price retests the **recent supply zone (~1.2650-1.2670)** and rejects, it could trigger a short-term bearish move.
- **Demand Zones (Buying Opportunities):**
- A key demand area lies **between 1.2550 - 1.2580**, which could serve as a re-entry point for longs.
- **Premium & Discount Zones:**
- The **discount area (below 1.2500)** could provide a stronger bullish reaction.
- The **premium supply area (~1.2700-1.2750)** could act as a strong resistance if price continues rallying.
4️⃣ Trade Setup Refinement**
📌 Bullish Scenario**
- **Entry Zone:** Between **1.2580 - 1.2600** (at demand zone).
- **Stop Loss (SL):** Below **1.2550** to protect against further downside.
- **Take Profit (TP):** Around **1.2700 - 1.2750** (Premium Zone/Supply Area).
- **Risk-Reward Ratio:** **1:4+**, making this a high-probability long setup.
📌 Bearish Scenario (If Supply Holds)**
- If price **rejects 1.2650-1.2670**, short opportunities could emerge targeting **1.2580 or lower**.
- A **break of PDL (1.2560) with strong bearish confirmation** could signal a deeper correction.
🔹 Final Thoughts**
✅ **Primary Bias:** Bullish, expecting a retracement into the **demand zone (1.2580-1.2600)** before another rally.
✅ **Alternative Bias:** If price rejects **1.2650-1.2670**, a short-term sell opportunity could play out.
✅ **Trade Plan:** Look for a liquidity grab at **PDL** before confirming a long position.
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.