This is a potential long setup on EURUSD.
I do believe we are gonna start seeking higher prices either CPI today, or PPI tomorrow.
The only other alternative is a drive lower to hunt for liquidity, push the bearish sentiment to the masses, and then crawl back up whilst taking out anyone looking for an opportunity to get in short. Both are valid ideas. Only thing I am confident about is that we will be heading up sooner or later, and this isn't the end of the road.
This setup is based on price not breaking the current low. I used GBPUSD as confluence. The POI is an Orderblock on multiple timeframes. That is the only clear area I can see for a possible retracement, faking a bearish move and heading higher very... VERY... rapidly. Time and price will offer more clues.
Best bet is wait for the high impact news to show the true colours of the market, then get in from there. Other than that, it would be a gamble.
R2F
I do believe we are gonna start seeking higher prices either CPI today, or PPI tomorrow.
The only other alternative is a drive lower to hunt for liquidity, push the bearish sentiment to the masses, and then crawl back up whilst taking out anyone looking for an opportunity to get in short. Both are valid ideas. Only thing I am confident about is that we will be heading up sooner or later, and this isn't the end of the road.
This setup is based on price not breaking the current low. I used GBPUSD as confluence. The POI is an Orderblock on multiple timeframes. That is the only clear area I can see for a possible retracement, faking a bearish move and heading higher very... VERY... rapidly. Time and price will offer more clues.
Best bet is wait for the high impact news to show the true colours of the market, then get in from there. Other than that, it would be a gamble.
R2F
R2F