GRASSUSDT SPOTLong
Update: Trading Idea for GRASS/USDT - Potential Bullish Reversal
In this updated analysis of the GRASS/USDT Spot pair, we continue to monitor the potential bullish reversal setup based on ICT (Inner Circle Trader) concepts. The market has developed further, and here’s the updated breakdown:
Market Structure Shift
We can still observe a Change of Character (CHOCH) in the previous phase, signaling an initial shift from a bullish to a bearish retracement. However, recent price action has confirmed a Break of Market Structure (BMS) to the upside, indicating that the market is now preparing for a bullish leg after having retraced.
Fair Value Gap (FVG) and Liquidity
The recent price action filled a Fair Value Gap (FVG), and we’ve seen a small rejection from this level. However, the market is likely to make another move lower to hunt for liquidity beneath the current lows. Below, we see a Daily FVG and Liquidity Pool marked around the $2.50 - $2.30 level, where the market may look to draw liquidity before reversing.
Optimal Trade Entry (OTE)
Using the Fibonacci retracement tool, we see that price could potentially drop into the 61.8% - 78.6% retracement zone (highlighted in orange), which aligns with a previous structural support level. This area also coincides with the Daily Fair Value Gap, offering a high-probability Optimal Trade Entry (OTE) zone for long positions.
Bullish Bias
The overall bias remains bullish in the medium term, with the expectation that price will seek liquidity lower before resuming the bullish trend. Once price dips into the OTE zone, we anticipate a strong rally towards the $4.00 level, which also lines up with unmitigated price imbalances and previous swing highs.
Execution Plan
Entry: Look for bullish confirmations in the $2.00 - $1.80 zone, which corresponds to the 61.8% - 78.6% Fibonacci retracement and coincides with the Daily FVG.
Stop Loss: Consider placing a stop below the $1.70 level, protecting against a deeper liquidity grab.
Take Profit: Initial target at $4.00, where there is a price imbalance and liquidity resting at previous highs.
Summary
The market is likely to dip lower into the Daily FVG and Fibonacci retracement zone, offering a high-probability buying opportunity. Using ICT principles of liquidity, market structure, and price imbalances, we anticipate a strong bullish reversal from this area. Patience is required to wait for price to enter the OTE zone before looking for long positions.
Market Structure Shift
We can still observe a Change of Character (CHOCH) in the previous phase, signaling an initial shift from a bullish to a bearish retracement. However, recent price action has confirmed a Break of Market Structure (BMS) to the upside, indicating that the market is now preparing for a bullish leg after having retraced.
Fair Value Gap (FVG) and Liquidity
The recent price action filled a Fair Value Gap (FVG), and we’ve seen a small rejection from this level. However, the market is likely to make another move lower to hunt for liquidity beneath the current lows. Below, we see a Daily FVG and Liquidity Pool marked around the $2.50 - $2.30 level, where the market may look to draw liquidity before reversing.
Optimal Trade Entry (OTE)
Using the Fibonacci retracement tool, we see that price could potentially drop into the 61.8% - 78.6% retracement zone (highlighted in orange), which aligns with a previous structural support level. This area also coincides with the Daily Fair Value Gap, offering a high-probability Optimal Trade Entry (OTE) zone for long positions.
Bullish Bias
The overall bias remains bullish in the medium term, with the expectation that price will seek liquidity lower before resuming the bullish trend. Once price dips into the OTE zone, we anticipate a strong rally towards the $4.00 level, which also lines up with unmitigated price imbalances and previous swing highs.
Execution Plan
Entry: Look for bullish confirmations in the $2.00 - $1.80 zone, which corresponds to the 61.8% - 78.6% Fibonacci retracement and coincides with the Daily FVG.
Stop Loss: Consider placing a stop below the $1.70 level, protecting against a deeper liquidity grab.
Take Profit: Initial target at $4.00, where there is a price imbalance and liquidity resting at previous highs.
Summary
The market is likely to dip lower into the Daily FVG and Fibonacci retracement zone, offering a high-probability buying opportunity. Using ICT principles of liquidity, market structure, and price imbalances, we anticipate a strong bullish reversal from this area. Patience is required to wait for price to enter the OTE zone before looking for long positions.
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