Hello everyone welcome back to another video. Not expecting much prior to CPI on thursday!
0:0 Monthly timeframe
1:18 Weekly timeframe
3:32 Daily timeframe
6:15 4hr timeframe
8:05 1hr timeframe
Just ranging until then between our Daily resistance level 1.1008 and 1.093 Daily support level, in which we bounced off of today and I was taking buys, unfortunately to no avail. You can be right abut the direction but still lose. That's the tough part of trading and it can be frustrating but risk management and a focus on trading psychology always come first to protect much valued capital. Price in the meantime may pop it's head up to 1.0986 1hr resistance zone or push back to the highs of our range.
I am favoring an increase on EURUSD with CPI data on thursday and would prefer to see EURUSD hold to the lows of structure around 1.0951 1hr zone and 1.0937 daily support zone while gathering sell side liquidity prior to a launch with CPI back towards 1.108 Daily resistance level. I will not be closed off to longs if we are back at the highs of structure though prior to CPI.
0:0 Monthly timeframe
1:18 Weekly timeframe
3:32 Daily timeframe
6:15 4hr timeframe
8:05 1hr timeframe
Just ranging until then between our Daily resistance level 1.1008 and 1.093 Daily support level, in which we bounced off of today and I was taking buys, unfortunately to no avail. You can be right abut the direction but still lose. That's the tough part of trading and it can be frustrating but risk management and a focus on trading psychology always come first to protect much valued capital. Price in the meantime may pop it's head up to 1.0986 1hr resistance zone or push back to the highs of our range.
I am favoring an increase on EURUSD with CPI data on thursday and would prefer to see EURUSD hold to the lows of structure around 1.0951 1hr zone and 1.0937 daily support zone while gathering sell side liquidity prior to a launch with CPI back towards 1.108 Daily resistance level. I will not be closed off to longs if we are back at the highs of structure though prior to CPI.
Comment:
For Longs : (Price is ranging prior to CPI so proper expectations) price has moved up since our long analysis 1.0966 . We moved up to our 1hr resistance zone, which has since turned into a 4hr resistance zone at 1.0986. We are attempting to move closer towards the highs of the range at 1.1008 daily resistance level. Waiting for confirmation with a 30m or 1hr candle closing above 1.0986 will give us that confirmation. We did receive some confirmation when the previous 4hr candle pulled all the way back up and the final 1hr candle closed a strong bullish candle. there was an opportunity here, and also upon the retest of the next 1hr candle of 1.097 1hr zone.
