BULL on the 60-minute chart is coiling inside a Symmetrical Triangle after a bullish impulse and a clear Break of Structure to the upside. Using Smart Money Concepts (SMC), the structure remains bullish as long as price holds above the key swing lows, with the 120-period MA still acting as trend support beneath the current consolidation. Price is oscillating between resistance around 9.40 and support near 8.95, while the 20 and 60 MAs flatten around the pivot zone at 9.205–9.285, reflecting equilibrium before the next move.
From an SMC perspective, the primary path is a bullish continuation. A 1H close above 9.40 would confirm displacement, breaking both the triangle’s upper boundary and horizontal resistance, with 9.80 as the next logical liquidity area. The 9.11–9.21 bearish Fair Value Gap is a key point of interest; a controlled fill of that imbalance, while price respects 9.20 and the 8.95–8.80 demand zone, can offer refined long entries. Alternatively, a clean 1H close below 9.20 and loss of the 8.95–8.80 support shifts the focus to a deeper correction toward 8.80, with any move back above 9.40 invalidating the bearish scenario. This is a study, not financial advice. Manage risk and invalidations.
Thought of the Day 💡:
Smart Money Concepts work best when paired with clear levels and strict invalidations.
-------------------------
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From an SMC perspective, the primary path is a bullish continuation. A 1H close above 9.40 would confirm displacement, breaking both the triangle’s upper boundary and horizontal resistance, with 9.80 as the next logical liquidity area. The 9.11–9.21 bearish Fair Value Gap is a key point of interest; a controlled fill of that imbalance, while price respects 9.20 and the 8.95–8.80 demand zone, can offer refined long entries. Alternatively, a clean 1H close below 9.20 and loss of the 8.95–8.80 support shifts the focus to a deeper correction toward 8.80, with any move back above 9.40 invalidating the bearish scenario. This is a study, not financial advice. Manage risk and invalidations.
Thought of the Day 💡:
Smart Money Concepts work best when paired with clear levels and strict invalidations.
-------------------------
Thanks for your support!
If you found this idea helpful or learned something new, drop a like 👍 and leave a comment, I’d love to hear your thoughts!
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