Traders, price is boxed in between 1.0750 and 1.0685. Several trade opportunities here. Caution with BUYS as we are still in a downtrend. If price breaks and retests 1.0750 target supply at 1.0800. We may see a "fakeout" early London session soaking up liquidity lower before a bounce. A break of 1.0685 support may signify a continuation of downtrend.
DIONNG
DIONNG
Comment:
Hey Traders, I'm looking at trading the "extremes". Example is a break of support sweeping liquidity below with a demand area to the left. You can take the BUY looking for a bounce at that level or wait for confirmation. There is such a level here at 1.0685/1.6500 from May this year. How high can we bounce? Caution around the 1.0925/1.1000 supply levels where we may be targeting sells. Watching price action coming into 06:00/08:00.
DIONNG
DIONNG
DIONNG