I know most traders are watching the 1min (or even 1 sec/tick) charts, but it often pays to ZOOM OUT. To get a Bird's Eye View, if you will.
Doing so on the EURUSD is scary. It looks like a GIANT HnS pattern. Ready to dump towards 1.11, even 1.10.
In a world of ever-growing Inflation concerns, it's always good to keep an eye on the opposite viewpoint, ESPECIALLY if one side of the trade is crowded (Inflation).
Without getting into all the GeoPolitics and Supply Chain discussions (you can find those all over the web), there are many reasons to anticipate a STRONG Dollar. Strong Dollar means, Weak Euro, which would clearly fit with the narrative implicit in this chart.
The markings of the HnS are very clear, as is the Break (close below) the neckline, and it's re-test into Demon Drop...
The upper "target" of this formation coincides with the "FVG (filled)", an ICT term/method.
Also marked is what I (for sake of simplicity in my mind) refer to as a "Bull" line. Which is a Bearish Open (in a Bull Trend). Something I picked up from Al Brooks, and his Bar-by-Bar style trading. The idea being, anyone who shorted the market then, will get out at break even.
Both levels put this market in "Discount", another ICT term (to my knowledge).
As always, good luck, have fun, and practice solid risk management.
Doing so on the EURUSD is scary. It looks like a GIANT HnS pattern. Ready to dump towards 1.11, even 1.10.
In a world of ever-growing Inflation concerns, it's always good to keep an eye on the opposite viewpoint, ESPECIALLY if one side of the trade is crowded (Inflation).
Without getting into all the GeoPolitics and Supply Chain discussions (you can find those all over the web), there are many reasons to anticipate a STRONG Dollar. Strong Dollar means, Weak Euro, which would clearly fit with the narrative implicit in this chart.
The markings of the HnS are very clear, as is the Break (close below) the neckline, and it's re-test into Demon Drop...
The upper "target" of this formation coincides with the "FVG (filled)", an ICT term/method.
Also marked is what I (for sake of simplicity in my mind) refer to as a "Bull" line. Which is a Bearish Open (in a Bull Trend). Something I picked up from Al Brooks, and his Bar-by-Bar style trading. The idea being, anyone who shorted the market then, will get out at break even.
Both levels put this market in "Discount", another ICT term (to my knowledge).
As always, good luck, have fun, and practice solid risk management.