$CLO just exploded 6.1% on 3.3x volume — strong buying pressure, but the next supply zone is where the real test begins.
My 1H bias remains bullish while price holds above the 0.12830 higher low. However, this is NOT a chase-long. I see the move as a liquidity run toward the 0.14619–0.14733 supply zone rather than confirmation that accumulation is complete.
The daily structure remains bearish, making this a counter-trend long. I want to see a clean pullback into 0.1320–0.1285, followed by a 5–15M bullish engulfing candle or market-structure shift before entering.
Targets: TP1: 0.14619 TP2: 0.15042 TP3: 0.15492
A sustained break above 0.14619 could open the path toward higher liquidity, while rejection around the supply cluster could turn this breakout into a bull trap.
Invalidation: 1H close below 0.12830.
Trade the confirmation, not the candle.
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