SOON is showing a strong bullish trend on the chart, with recent structure events confirming upward momentum. Price has broken through previous resistance levels, indicating strength. The trendline remains intact with higher lows forming, suggesting continued buying pressure. We're looking to enter as price pulls back slightly after the recent breakout, aiming for the previous swing high as a target. The stop loss is placed below a significant swing point, offering a clear risk management level. This setup capitalizes on the established bullish structure and the recent breakout confirmation.
💬 Market Take Data calendar's a bit light on conviction right now, but keep half an eye on the USD-sensitive prints -- they can still nudge BTC, ETH and gold around fast. Staying flexible on both sides until we get more confirmation.
Direction: Bullish Enter Here: 0.09553 SL: 0.09125 Target 1: 0.10409
The chart shows a bullish trend with price currently in the discount zone of the dealing range, favoring longs. A bullish change of character occurred just seven candles ago, breaking above the 0.09516 level, which has since been swept and now acts as a liquidity pool. Price has also taken a minor inducement pullback, which can trap late sellers before a continuation. The nearest open buy-side liquidity sits at the recent swing high of 0.09749, but the more significant target is the range high at 0.1044, which aligns with the major swing high from 43 candles ago. The stop is placed below the key equal lows and bullish order block zone around 0.09125, protecting against a failure of the recent higher low structure.
Keep the stop below that recent low and let the trend work.
- The trend is bullish and price is trading in the discount half of the dealing range, favoring long setups. - A recent break of structure just three candles ago confirmed the bullish momentum by taking out the 2.036 level. - Buy-side liquidity was swept at 2.036 five candles ago, clearing a path for price to move higher. - Price is currently inside a bearish fair value gap, which can act as a temporary pullback zone before the trend resumes. - The nearest open buy-side liquidity is at the previous swing high of 2.281, providing a clear target. - A bullish order block below has already been tested, showing respect for the underlying demand.
Keep the stop below the recent change of character level and let the bulls run.