Bought: 160.875
Take profit: 161.07
Profit: $162.68
Analysis Using Top-Down Approach
Daily Timeframe
Overall market structure is an uptrend, with higher highs and higher lows.
4 Hours Timeframe
Continuing from the trade here, the demand/liquidity zone remains the same. The market structure is in an uptrend.
1 Hour Timeframe
The 1 hour timeframe shows a potential bullish trend with higher lows. However, there is no higher highs (failed to break structure). Drawn up the bullish trendline. The price has bounced off the trendline. Decided to enter for a buy.
Go down to the 15 mins timeframe to look for an optimal buy entry.
15 Mins Timeframe
Liquidity has entered the market, as shown by the long bullish candlestick. Entered for a buy immediately at 160.875. Placed a stop loss at 160.715 and placed take profit at 161.07, the next swing high at the supply zone.
