TRX: Bulls Showing Strength on HTF (High Timeframe)
2024-12-06

On the higher timeframe (HTF), we can see clear evidence that bulls are gaining strength after a reversal. My target for this move is the $0.70 level, but before taking the trade, I will wait for price to confirm bullish momentum.

Looking at the Daily Timeframe, the price has tapped into a Fair Value Gap (FVG), which aligns with my expectation of upward movement. However, I need clear confirmation before entering a trade. Below is my entry plan:

Entry Plan:

Primary Entry:
I will take an entry from the blue area under the internal liquidity (LQ) zone. My stop loss (SL) will be placed under the daily low to protect against invalidation.

Secondary Entry (if the daily low breaks):
If the daily low is broken, I will wait for the price to retrace to 25% of the Daily FVG and take my entry there. My SL will still be positioned below this new daily structure.

Confirmation at Red Level:
If the price breaks above the red level (key resistance or liquidity zone), I will wait for a retest of this level before entering. My SL will be placed under the last order block (OB) for protection.