1. Market Structure & Trend
The chart represents the GBP/USD currency pair on a 1-hour timeframe.
The price action is following an ascending trendline, suggesting an uptrend with higher lows being formed.
Price is currently testing this trendline, which could act as support for further bullish movement.
2. Key Trading Zones & Liquidity Areas
Internal Demand Zone (Highlighted in Orange):
A critical area where buyers have previously stepped in, pushing price higher.
If the price holds above this zone, it could trigger a bullish continuation.
Liquidity Zone (Marked in Red):
An area where stop losses may have been collected before a potential move upwards.
This liquidity grab can be a sign of institutional accumulation before price pushes higher.
H-L (Higher Low) Marked Below Liquidity:
Indicates the previous swing low, which, if broken, could suggest a shift in trend structure.
However, if it holds, the bullish structure remains intact.
3. Trade Setup & Risk Management
Entry Point: The trade appears to be planned near the internal demand zone and ascending trendline.
Stop Loss (Red Zone - Below 1.25965): Positioned below the liquidity zone, ensuring protection against further downside.
Take Profit (Green Zone - Above 1.26907): Targeting a move higher towards previous resistance.
4. Confirmation & Confluence
Bullish Confluence Factors:
The internal demand zone aligns with the ascending trendline, adding confidence in the bullish move.
A liquidity grab below previous lows hints at potential smart money involvement.
5. Potential Risks
A break below the demand zone and trendline could indicate a trend shift, leading to a bearish movement.
The next support area below 1.25965 would then be the key level to watch.
Conclusion
The chart suggests a potential bullish trade setup as long as price respects the demand zone and ascending trendline. If confirmation is received (e.g., bullish candlestick patterns), buyers may drive the price toward 1.26907 and beyond. However, if price breaks below support, it could signal a bearish reversal.
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