After seeing a spike upside sweeping out liquidity, price swiftly caused a Shift in structure to the downside leaving some imbalances along the way, over time price has collectively moved back to the upside showing little bullish strength… Returning to my areas of interest i.e fib entry zone and supply zones. Dropping to lower tfs we have now made some additional structural shifts downside giving me more confirmation for short positions.
Trade closed: stop reached:
EUR news come through and pushed price higher! Overall trade idea was fine but with the weakness of the JPY atm and positive EUR news shows that we cant win them all. on to the next one!