After completing a textbook Wave 5, price entered a premium supply zone and executed a clean liquidity sweep.
🔹 Confirmed Change of Character (ChoCh) signals the shift from bullish to bearish order flow.
🔹 Price is respecting the SMC structure:
📍 Liquidity grab
📍 Mitigation of bearish order block
📍 Distribution phase after impulsive rally
📉 Short-Term Bias: Bearish
🎯 Targeting the demand zone below near 1.1275–1.1292, where we may expect accumulation to begin again.
📌 Plan:
1. Short entries valid below 1.1439 supply.
2. Monitoring reaction at the blue zone for possible reversal next week.
⚙️ Strategy used:
SMC + Wyckoff Distribution + Elliott Wave (Top-down)
🔹 Confirmed Change of Character (ChoCh) signals the shift from bullish to bearish order flow.
🔹 Price is respecting the SMC structure:
📍 Liquidity grab
📍 Mitigation of bearish order block
📍 Distribution phase after impulsive rally
📉 Short-Term Bias: Bearish
🎯 Targeting the demand zone below near 1.1275–1.1292, where we may expect accumulation to begin again.
📌 Plan:
1. Short entries valid below 1.1439 supply.
2. Monitoring reaction at the blue zone for possible reversal next week.
⚙️ Strategy used:
SMC + Wyckoff Distribution + Elliott Wave (Top-down)
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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.