AlkalineFX

EURUSD - Selling Trap Complete

Short
FX:EURUSD   Euro / U.S. Dollar
My bias going into next week is bearish for this pair but this can flip at any point depending on the price action we see. Sellers have been trapped twice now as shown, banks may now have enough liquidity to create a strong move to the downside, similar to my GBPUSD analysis.

I will be patient with this pair and allow the structure to shift before I get involved. If we see bullish momentum breaking the horizontal level marked then I will disregard my bearish bias and look for a buying opportunity into the previous highs.

Comments

My guy putting in the work love from the Sensei
Reply
Great review but what about the Daily Structure ? A technical formation of a Higher Low last week and previous 2 candles could be part of the Bullish impulse in a Bullish structure. The 4H also created Equal Lower High, signaling probable shift from bearish to bullish structure.
Reply
AlkalineFX AsadAamerKhan
@AsadAamerKhan, I respect the way you think but that is very retail minded and i try and stay away from that mindset personally, that is not saying it couldn't happen, I am always happy to shift my bias if necessary. Wishing you an amazing trading week ahead all the best bro!
Reply
AsadAamerKhan AlkalineFX
@AlkalineFX, Kindly explain me the reasons for your bearish bias. I am interested to look into it.
+1 Reply
AlkalineFX AsadAamerKhan
@AsadAamerKhan, Not much more to dive into than the analysis above, If I see the price extend pass the line I will buy if not bearish bias fixed. Let me know if you want me to go into anything specifically?
+1 Reply
AsadAamerKhan AlkalineFX
@AlkalineFX, What do you think about the Weekly and Daily structure and Price action ? What are these time frames telling you ? I'm interested to know what you're seeing on these two.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out