FWOG approaching Buying ZoneKey Levels:
Previous Weekly Wick: This level is shown in green. It represents inefficient price delivery which price will be looking to to fill (trade back into).
PWH: Previous Weekly High
Imbance / W: Weekly Imbalance which is visible on the Weekly Timeframe.
This suggests potential support, where price may stabilize or reverse.
Entry Zone: A highlighted region in red below the current price, where price could find an entry point for longs. We want to see structure break to the upside which would confirm us to take a long position.
Trade Setup:
Look for Entries: The ideal entry could be near the marked red zone where the price may find support or demand, offering a low-risk long position.
Take Profit: The previous weekly wick level can be a key resistance target. Monitor price action around this level to decide whether to lock in profits.
Stop Loss: A stop loss can be placed below the marked imbalance area or below the support region.
Summary: The focus is on looking for entries near the marked red zone (support area) and targeting a potential upward move toward the previous weekly wick as the resistance level.
Be mindful of any price action near the support and imbalance levels for confirmation of entry.
