Market Context:
The current price action shows a potential reversal setup after a significant bearish move.
Liquidity sweeps ($$$) have occurred at previous lows, hinting at a potential bullish accumulation.
A clear 30-minute order block (OB) has formed at 2,666 with a high probability of acting as a demand zone.
Key Levels:
Entry Zone: 30-minute OB at 2,666.18.
Take Profit (TP): Targeting the previous liquidity zone at 2,698.18 (major resistance).
Stop Loss (SL): Below the OB at 2,660.00 to minimize risk.
Technical Confluences:
Liquidity Sweep: The price has cleared liquidity below recent swing lows, forming a possible base for a bullish move.
Order Block: The 30-minute OB aligns with the structure of bullish accumulation and overlaps with a support area.
Relative Strength Index (RSI): Momentum is showing signs of divergence, which further supports a potential reversal.
Higher Time Frame (HTF) Alignment: The bullish bias aligns with a possible retracement to HTF levels.
Execution Plan:
Entry: Place buy limit orders at 2,666.18, within the 30-minute OB.
Risk Management:
Risk 1% of your account balance.
Position size calculated based on a 6-point SL.
Profit Target:
Primary TP: 2,680.00 (intermediate resistance).
Final TP: 2,698.18 (key HTF resistance).
Market Expectations:
Expect a potential reaction at the OB, with a bounce towards the intermediate resistance level.
Confirmation on lower time frames (LTF) could include bullish engulfing patterns or a break of market structure.
This trade idea capitalizes on a high-probability demand zone with solid risk-reward dynamics.
The current price action shows a potential reversal setup after a significant bearish move.
Liquidity sweeps ($$$) have occurred at previous lows, hinting at a potential bullish accumulation.
A clear 30-minute order block (OB) has formed at 2,666 with a high probability of acting as a demand zone.
Key Levels:
Entry Zone: 30-minute OB at 2,666.18.
Take Profit (TP): Targeting the previous liquidity zone at 2,698.18 (major resistance).
Stop Loss (SL): Below the OB at 2,660.00 to minimize risk.
Technical Confluences:
Liquidity Sweep: The price has cleared liquidity below recent swing lows, forming a possible base for a bullish move.
Order Block: The 30-minute OB aligns with the structure of bullish accumulation and overlaps with a support area.
Relative Strength Index (RSI): Momentum is showing signs of divergence, which further supports a potential reversal.
Higher Time Frame (HTF) Alignment: The bullish bias aligns with a possible retracement to HTF levels.
Execution Plan:
Entry: Place buy limit orders at 2,666.18, within the 30-minute OB.
Risk Management:
Risk 1% of your account balance.
Position size calculated based on a 6-point SL.
Profit Target:
Primary TP: 2,680.00 (intermediate resistance).
Final TP: 2,698.18 (key HTF resistance).
Market Expectations:
Expect a potential reaction at the OB, with a bounce towards the intermediate resistance level.
Confirmation on lower time frames (LTF) could include bullish engulfing patterns or a break of market structure.
This trade idea capitalizes on a high-probability demand zone with solid risk-reward dynamics.
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.