FET Setup: Reclaim, Retest, RallyScenario:
Price reclaimed the 1W order block (OB), confirming strong support in the $0.60–$0.70 area.
If price consolidates above this weekly OB, expect continuation toward the $0.96 equilibrium/resistance zone.
A pullback to retest the 1W OB as support (especially in August) is possible and would be a high-probability entry zone for longs.
Failure to hold the 1W OB would invalidate the bullish setup, so stops should be placed below this level.
Reasoning:
The successful reclaim of the weekly order block signals a structural shift from bearish to bullish. Holding above this area invites further upside, as demand is confirmed. A retest and bounce from the 1W OB would provide a strong confirmation for additional upside, while failure to hold would indicate the move was a deviation. Patience for a clean retest is likely to reward, with targets toward the equilibrium near $0.96.
