$COMP $COMP 1D Read: - I expect the price to attempt a sweep below 14.82 to trigger liquidity, as this is a classic smart money move to trap late shorts and collect buy-side liquidity.
- If the sweep below 14.82 is quickly reclaimed and supported by a strong bullish candle, I would expect a relief rally first towards 16.21, then 18.49, and possibly 19.91 if momentum increases.
- If there is no convincing reversal at 14.82 and the price closes below it, further downside to 13.00 and 11.40 becomes likely.
- For a long setup: wait for a sweep/rejection below 14.82, then a clear reversal candle or lower timeframe bullish structure break. Entry on reclaim of 15.13, first take profit at 16.21, next at 18.49, and extended TP at 19.91. Place your stop-loss just below the new swing low formed after the liquidity sweep.
- If the price rallies to 18.49 or 19.91 and shows bearish rejection, look for a short setup targeting 16.21 and 15.13, with stop-loss above the swing high created by the rejection.
- My bias will turn bullish on a strong daily close above 19.91 and a break in market structure; until then, trend is still bearish and reversals should be quickly secured.
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