Price has been in a short-term downtrend with lower highs and lower lows. Recently, price tapped into a clear demand zone (marked gray at the bottom), showing strong bullish rejection and mitigation.
A clean break of the descending trendline confirms a potential shift in market structure.
Price has now retraced into a Fair Value Gap (FVG) after the breakout — a bullish continuation setup.
As long as price holds above the FVG and demand zone, expect a continuation toward external liquidity above - Demand Zone (1.16700–1.16950)
If price breaks back below the FVG and especially under the demand zone, the bullish scenario weakens
A clean break of the descending trendline confirms a potential shift in market structure.
Price has now retraced into a Fair Value Gap (FVG) after the breakout — a bullish continuation setup.
As long as price holds above the FVG and demand zone, expect a continuation toward external liquidity above - Demand Zone (1.16700–1.16950)
If price breaks back below the FVG and especially under the demand zone, the bullish scenario weakens
iSmashProfit
Related publications
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.
iSmashProfit
Related publications
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.