Price reacted to the H4 demand but sellers came into play again very strong from the M15 level of the previous post. The expectation was for a reaction but not for a reversal and another break of structure. The only reason for price to do this, is to grab more liquidity and react to the bottom of the 1D/H4 demand, where the M15 level is. That's exactly what I'm expecting to see tomorrow.
If not, there's always the possibility that price will break the H4 swing structure and continue down. This would be an important reversal and a show of strength from the USD. If that happens, next week shorts will be in play but for now I don't have enough evidence.
If not, there's always the possibility that price will break the H4 swing structure and continue down. This would be an important reversal and a show of strength from the USD. If that happens, next week shorts will be in play but for now I don't have enough evidence.
Comment:
Low volatility during London but price should make a move towards the M15 demand today during NY session.
Comment:
Perfect reaction to the M15 demand from the previous idea.
Now there's another decision price has to make. In order to remain bullish and take all the liquidity available from this week highs, the H4 should see a strong close. If not, there's a chance that the level will fail and structure will turn bearish.
Personally, I'm already done with this trade, as it's a Friday and I don't want to hold partials during the weekend. Next week should be very interesting as well.
Now there's another decision price has to make. In order to remain bullish and take all the liquidity available from this week highs, the H4 should see a strong close. If not, there's a chance that the level will fail and structure will turn bearish.
Personally, I'm already done with this trade, as it's a Friday and I don't want to hold partials during the weekend. Next week should be very interesting as well.