### **Market Context:** - **Support Zone:** Price has reacted strongly from the FVG (Fair Value Gap) near the $2.21 - $2.15 region, showing bullish demand in this area. - **Resistance Levels:** Immediate resistance is around $2.39, with further key levels at $2.70 and $2.92. - **Order Block (OB):** Notable bearish order block marked near $2.70, which can serve as a potential take-profit area.
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### **Key Observations:** 1. **Bullish Structure:** - The price has established a bullish market structure shift (MSS) after revisiting demand zones. - EMAs are aligning closely, suggesting consolidation before a potential breakout.
2. **Liquidity Grab:** - The recent dip into the FVG signals a liquidity grab, hinting at bullish accumulation.
3. **Risk-Reward Setup:** - The long position setup reflects a favorable risk-reward ratio, with the stop-loss below $2.15 and targets extending to $2.70 and potentially $2.92.
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### **Trade Plan:** - **Entry:** Around $2.32 - $2.36 (current price zone). - **Stop Loss:** Below $2.15 to account for a safe invalidation. - **Targets:** - **TP1:** $2.70 (resistance near the OB zone). - **TP2:** $2.92 (major resistance and psychological level).
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### **Notes for Traders:** - Watch for volume confirmation as the price approaches resistance levels. - If price retraces to the FVG ($2.21 area), consider it an opportunity to add to the position.
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Keep your risk management tight and follow the plan!
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