We've identified a promising long setup on OP with several strong confluences:
1. **Sweep of MDay-Low Range**: The price has swept the MDay-Low range, moving right into the Fair Value Gap (FVG) and Demand zone.
2. **Bullish Market Structure**: The market remains bullish as long as the demand holds.
3. **Range Low Within Demand**: The range low is situated inside the demand zone.
4. **Multiple FVGs Above**: Various FVGs on different time frames are positioned between $2.83 and $2.97. We anticipate these levels will be taken out in the future, though the timing is uncertain.
Additionally, we have lost the trendline and retested it perfectly, which should provide sufficient momentum to the downside, allowing us to get filled here. We have set the stop loss a bit wider than usual to account for a potential dip below the demand zone to capture the resting liquidity there. All these factors combined provide enough momentum and security to validate this setup as a high-probability trade.
1. **Sweep of MDay-Low Range**: The price has swept the MDay-Low range, moving right into the Fair Value Gap (FVG) and Demand zone.
2. **Bullish Market Structure**: The market remains bullish as long as the demand holds.
3. **Range Low Within Demand**: The range low is situated inside the demand zone.
4. **Multiple FVGs Above**: Various FVGs on different time frames are positioned between $2.83 and $2.97. We anticipate these levels will be taken out in the future, though the timing is uncertain.
Additionally, we have lost the trendline and retested it perfectly, which should provide sufficient momentum to the downside, allowing us to get filled here. We have set the stop loss a bit wider than usual to account for a potential dip below the demand zone to capture the resting liquidity there. All these factors combined provide enough momentum and security to validate this setup as a high-probability trade.
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🏆 FREE Telegram - t.me/stromm_trading
⚡ Join me when you're ready – over 550 are already there.
⚡ Join me when you're ready – over 550 are already there.
Related publications
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.