USD/CAD has swept liquidity below a significant support level, creating a high-probability buy limit setup. This price action suggests that the market has absorbed selling pressure, signaling a potential bullish reversal from this zone.
Key Observations:
Liquidity Grab: A dip below a key support level cleared stop-losses, trapping sellers and setting the stage for a bounce.
Market Structure: Early signs of bullish rejection and a shift in momentum suggest a recovery is imminent.
Optimal Entry: A buy limit at [specific price level] targets the liquidity zone for a potential upward move.
Trade Plan:
Entry: Buy limit at [specific level], anticipating a bounce from the liquidity zone.
Stop Loss: Below the recent liquidity sweep to manage risk effectively.
Take Profit: Targeting resistance levels around [specific levels] to capture the bullish move.
Risk Management:
This setup takes advantage of liquidity dynamics for a strategic entry, but disciplined risk management is key. Keep position sizing appropriate and monitor price action for additional confirmation of bullish intent.
Key Observations:
Liquidity Grab: A dip below a key support level cleared stop-losses, trapping sellers and setting the stage for a bounce.
Market Structure: Early signs of bullish rejection and a shift in momentum suggest a recovery is imminent.
Optimal Entry: A buy limit at [specific price level] targets the liquidity zone for a potential upward move.
Trade Plan:
Entry: Buy limit at [specific level], anticipating a bounce from the liquidity zone.
Stop Loss: Below the recent liquidity sweep to manage risk effectively.
Take Profit: Targeting resistance levels around [specific levels] to capture the bullish move.
Risk Management:
This setup takes advantage of liquidity dynamics for a strategic entry, but disciplined risk management is key. Keep position sizing appropriate and monitor price action for additional confirmation of bullish intent.
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.