Forty-seven days ago I started watching this setup. Today, something important finally happened.
Price has now broken through the two 1-hour resistance zones I was watching. This changes the picture significantly — and it also means I need to explain something honestly.
What I Got Wrong
In the previous post I said I would wait for two conditions before considering a long trade: a downside liquidity sweep followed by a BOS to the upside. Both conditions. No exceptions.
The liquidity sweep never happened. Price did not go down to grab it — instead it broke upward through both 1-hour resistance zones with strong momentum.
I want to be clear about this. My original idea was that price would first sweep the downside liquidity. That did not happen, and the market eventually moved in the opposite direction. The important part for me is not whether my original scenario was right. It is recognising when the market has invalidated the idea I started with and adjusting accordingly.
Those two conditions I set — liquidity sweep then BOS — were specifically for the situation before the 1-hour resistance zones were broken. Now that both zones have been broken, waiting for price to go back down to grab liquidity would not make sense. The structure has shifted. The conditions have to shift with it.
The 4-Hour Chart
On the 4-hour chart price is now showing bullish structure. But the daily resistance is still sitting above and that matters.
By clear momentum I mean a strong move through the zone followed by price holding above it rather than immediately falling back inside. That is what happened with both 1-hour resistance zones. Price did not just touch them — it broke through and stayed above.
Until price breaks the daily resistance with the same conviction, I do not consider the higher timeframe structure fully bullish yet. There is still a real possibility price reaches the daily resistance and starts moving back down from there.
My Current Plan
The 1-hour resistance zones have been broken. I am now watching for my setup to form on the lower timeframe. If it forms and all my conditions are met, I will consider a long trade. If any condition is missing, I skip it.
I am not placing a trade right now. I am waiting for the setup. Until that happens, no trades.
One thing I want to be clear about. I am not calling a confirmed uptrend. I am saying the conditions for a long trade are becoming possible. Those are two very different things.
Bye for now, take care.
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