We have an bullish OB with imbalance on Daily, 6 HOUR REFIMNET with some stoplosses underneath 107 200. If we do not hold local LTF -15M- 1H range I would be favoring this setup.
Otherwise I am already in position and already took two TPs.
Setup Thesis:
If price tags the demand zone (highlighted in pink) and holds, we could see a continuation toward recent highs. The setup favors a reactive long entry from this zone, as long as buyers defend the area with conviction.
Key Factors:
Demand zone: High probability support area
Clean structure: HL-HH continuation in play
Market strength remains intact above this zone
Plan:
Wait for reaction at demand
Long on confirmation (rejection candle, reclaim, or strong 4H close)
Invalidation below the zone lows
Trade active
This is my LTF idea and strategy, which is way less probable and MEME oriented but still:tradingview.com/chart/E1ellvIU/?symbol=FOREXCOM:EURCAD
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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.