🔍 Key Observations**
1️⃣ Market Structure**
- **Overall Trend:** The market is in a **strong bullish uptrend**, confirmed by multiple **BOS levels**.
- **Break of Structure (BOS):** Higher highs and higher lows indicate continued bullish pressure.
- **Weak Highs:** Price has formed **weak highs near 2949.93**, which suggests liquidity is resting above these levels.
- **Liquidity Grab Potential:** If price sweeps these highs and rejects, it could indicate a possible short-term reversal.
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2️⃣ Key Liquidity Zones**
- **Previous Day's High (PDH ~ 2949.93):** A key resistance level where liquidity is likely resting.
- **Previous Day's Low (PDL ~ 2916.82):** A key support level where liquidity could be grabbed before a bullish push.
- **Discount Zone (~2880 - 2850):** A demand area where **smart money might re-enter long positions** if price retraces.
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3️⃣ Smart Money Considerations**
- **Liquidity Grab Scenario:**
- If price **sweeps above 2949.93 (PDH) and rejects**, it could indicate a short-term bearish correction.
- If price **drops below 2916.82 (PDL) and quickly reverses**, it would signal a liquidity grab before another bullish rally.
- **Equilibrium & Order Blocks:**
- Price is currently **hovering around a key supply zone**; a strong bullish breakout above **2950** would confirm further upside.
- A pullback into **equilibrium (around 2900-2880)** would be an ideal buy opportunity.
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4️⃣ Trade Setup Refinement**
#### **📌 Bullish Scenario**
- **Entry Zone:** Look for a liquidity grab around **2916.82 (PDL)** or a retracement into **2880-2850 (discount zone)**.
- **Stop Loss (SL):** Below **2840**, in case of deeper corrections.
- **Take Profit (TP):** Around **2970 - 3000**, targeting the next psychological resistance.
- **Risk-Reward Ratio:** **1:4+**, making it a high-probability long trade.
📌 Bearish Scenario (If Supply Holds at 2950)**
- If price **fails to break 2950 and shows rejection**, a short opportunity could emerge.
- **Short Entry:** Near **2950-2960** with confirmations of rejection.
- **TP for Shorts:** **2916.82 - 2880 (liquidity grab area)**.
- **Risk-Reward:** Short-term **scalp trade**, lower probability than long setups.
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🔹 Final Thoughts**
✅ **Primary Bias:** **Bullish**, waiting for a retracement into **liquidity zones (PDL or discount zone)** before resuming the uptrend.
✅ **Alternative Bias:** If price **fails to break 2950**, a short-term sell setup could play out before buyers re-enter.
✅ **Trade Plan:** Look for a **liquidity grab below PDL or a discount entry near 2880 for buying opportunities**.
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.