A demand zone was created on August 14th on the 4hr timeframe, where price showed strong bullish volume to the upside. And as usual, smart money took out the liquidity of SLs places as shown on the chart. I patiently waiting for smart money to bring price back to the main 4hr demand zone and it did. However, it was in consolidation for a long time and it seemed as if there was a structure that was struggling to be broken(as shown on the chart).
On September 5th at 1AM est, price finally closed above the structure with a high volume candle on the 1HR chart, thus validating an entry.
I missed the primary bull candle entry, but price did retest the support of the broken structure, assuring the trade even more. I expect price to reach around the most recent high close to 1.98247. Now we wait...
On September 5th at 1AM est, price finally closed above the structure with a high volume candle on the 1HR chart, thus validating an entry.
I missed the primary bull candle entry, but price did retest the support of the broken structure, assuring the trade even more. I expect price to reach around the most recent high close to 1.98247. Now we wait...