Mana is approaching a key origin of movement, a zone that previously delivered a significant impulsive move, which we have clearly identified and labeled with a BOS (Break of Structure). This highlights the importance of this area from a market structure perspective.
Additionally, there is a major key level in this region that aligns and overlaps with the movement origin, adding further confluence and increasing the probability of a reaction from this zone.
It is important to note that the recent bearish move has retraced the entire previous bullish leg in a much shorter time, which signals strong bearish pressure. Because of this, risk management is critical. From this area, we are primarily looking for a bullish reaction or corrective bounce, rather than immediately expecting a full trend reversal.
We have identified two entry zones, and positions should be built using a DCA (Dollar-Cost Averaging) approach to reduce risk and improve average entry price.
There are two upside targets defined. At Target 1, it is recommended to move the position to break even and secure partial profits. The remaining position can be held toward the higher target as long as structure remains valid.
⚠️ Invalidation:
A daily candle close below the invalidation level will invalidate this bullish scenario and indicate that further downside is likely.
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This is not a trade setup, as it has no precise stop-loss, stop, or target. I do not publish my trade setups here.