Based on the daily chart structure, the current market trend is bullish, evidenced by a Break of Structure (BOS). The price has already retraced to the 70% Fibonacci level on the same timeframe, indicating a healthy pullback within the ongoing trend.
However, despite this bullish context, this is not yet an ideal high-probability entry for either swing or short-term positional trading. The reason is that there remains an unmitigated Fair Value Gap (FVG) located near an extreme order block. This inefficiency could draw price lower before a continuation move.
Recommended Strategy:
Wait for price to revisit the order block that aligns with the FVG.
Upon reaching this zone, look for confirmation via:
A Change of Character (CHoCH) or
A Flip zone formation on a lower timeframe.
Entry Confirmation:
For swing trading, monitor the 15-minute timeframe for a CHoCH or flip as confirmation.
For short-term positional entries, use the 1-hour timeframe to confirm a reversal or structure shift.
Once confirmation is observed at the order block zone, this will provide a high-probability entry aligned with the prevailing bullish trend and refined institutional order flow concepts.
However, despite this bullish context, this is not yet an ideal high-probability entry for either swing or short-term positional trading. The reason is that there remains an unmitigated Fair Value Gap (FVG) located near an extreme order block. This inefficiency could draw price lower before a continuation move.
Recommended Strategy:
Wait for price to revisit the order block that aligns with the FVG.
Upon reaching this zone, look for confirmation via:
A Change of Character (CHoCH) or
A Flip zone formation on a lower timeframe.
Entry Confirmation:
For swing trading, monitor the 15-minute timeframe for a CHoCH or flip as confirmation.
For short-term positional entries, use the 1-hour timeframe to confirm a reversal or structure shift.
Once confirmation is observed at the order block zone, this will provide a high-probability entry aligned with the prevailing bullish trend and refined institutional order flow concepts.
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.