Price is retracing into a key demand zone near 1.1350–1.1360 after a sharp move up. This area also coincides with a prior high-volume node (POC) on the market profile, suggesting significant past accumulation and potential for a reaction.
Market Profile Insights:
• A clear value area developed between ~1.1350 and ~1.1385, showing strong acceptance.
• The recent move up created a low-volume node (LVN) just above the current price – indicating inefficient price action that may be revisited quickly if demand returns.
• Current price is re-entering the prior value area, hinting at a potential test of the lower boundary (~1.1350), which also aligns with the ascending trendline support.
• If this zone holds, there’s a clean upside imbalance toward 1.1518 – where the previous distribution ends and new liquidity likely sits.
Trade Plan:
• Long Bias from demand zone with bullish confirmation.
• Target: 1.1518
• Invalidation: Break and hold below 1.1340 demand
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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.