$FIL recorded approximately $7.03K in short liquidations at $1.15309, suggesting that bearish positions were squeezed near this level. This may create short-term upside pressure, although it is not sufficient evidence of a sustained bullish reversal. A breakout above local resistance, supported by increasing volume and a successful retest, would improve the long setup. Failure to hold above the breakout zone could instead produce a liquidity grab followed by renewed selling.
📈 Trade Plan
Bias: LONG — conditional
Entry: $1.153–$1.165 after a confirmed breakout and retest
TP1: $1.185
TP2: $1.210
TP3: $1.245
SL: $1.135
Risk-to-Reward: Approximately 1:1 to 1:3, depending on entry and target.
Trade Grade: B — confirmation required
Trade Thesis: Short covering could fuel a relief rally, but a bullish BOS, stronger buying volume, and support above the breakout level are necessary for continuation.
Risk Management: Wait for the retest rather than chasing a rapid move. Exit if the confirmed setup fails.
📈 Trade Plan
Bias: LONG — conditional
Entry: $1.153–$1.165 after a confirmed breakout and retest
TP1: $1.185
TP2: $1.210
TP3: $1.245
SL: $1.135
Risk-to-Reward: Approximately 1:1 to 1:3, depending on entry and target.
Trade Grade: B — confirmation required
Trade Thesis: Short covering could fuel a relief rally, but a bullish BOS, stronger buying volume, and support above the breakout level are necessary for continuation.
Risk Management: Wait for the retest rather than chasing a rapid move. Exit if the confirmed setup fails.