Called this trade out in my tele onlyThesis:
The trade was based on bullish price action as GJ traded into a significant 1-hour bullish order block (OB) around the 195.665 level. Price action created equal lows, signaling liquidity buildup, and formed a fair value gap (FVG) within the retracement to the 0.62 Fibonacci level, providing a high-probability setup for longs.
Key Steps in Analysis:
Retested the 1-hour bullish OB at 195.665.
Observed a bullish CHOCH (Change of Character) on the 5M/15M chart, confirmed by a body candle close above.
Retested the bullish CHOCH level, providing an optimal entry to capitalize on buys toward the 196.800 target level.
Entry:
Entered long within the FVG region, aligning with the 0.62 Fibonacci retracement level and the bullish CHOCH retest.
Take Profits (TP):
TP1: Set at the 0% Fib level.
TP2: Positioned at the -50% Fib level for extended targets.
Stop Loss (SL):
Placed below the recent displacement low to ensure proper risk management and invalidate the trade if the structure failed.
Outcome:
The trade executed as planned. Price respected the bullish structure, completed the move toward 196.800, and achieved both TP1 and TP2. This validates the robust thesis and disciplined execution.
