It's been a while I dropped something for my audience here. I have been up to a lot of tasks which made my schedule very tight and energy draining. I am still with you all so lease don't feel abandoned.
On the 1h timeframe, EURUSD has been in a health uptrend since 21st August and price has breaking major resistance zones making HHs and HLs. I used a trendline as confluence to make it outstanding. I have been able to mark out some major areas where stops where raided and liquidity taken.
Looking into where price is at recently (The highest "4h EL" marked level and the "1h + 4h MS Low" level), we should observe whether price would break above the former or the later. The "4H EL" region is an outstanding resistance area on higher timeframes (4h and daily). Due to the rejections on that region, there's a high probability that price might price might form a HL or correction to one of the support regions marked out before the continuation of it's uptrend (if it may continue). The two support areas marked out are based on outstanding OB levels on the chart.
On the 1h timeframe, EURUSD has been in a health uptrend since 21st August and price has breaking major resistance zones making HHs and HLs. I used a trendline as confluence to make it outstanding. I have been able to mark out some major areas where stops where raided and liquidity taken.
Looking into where price is at recently (The highest "4h EL" marked level and the "1h + 4h MS Low" level), we should observe whether price would break above the former or the later. The "4H EL" region is an outstanding resistance area on higher timeframes (4h and daily). Due to the rejections on that region, there's a high probability that price might price might form a HL or correction to one of the support regions marked out before the continuation of it's uptrend (if it may continue). The two support areas marked out are based on outstanding OB levels on the chart.
Comment:
I want you to take a good look at how price respected the zones marked out. Isn't this a beautiful thing?
I want you to take a good look at how price respected the zones marked out. Isn't this a beautiful thing?
In addition to this, you can look to DXY. Don't mind my markings. It's just what I see. You could be seeing differently.
Again, ignore any strange term you see on the chart and just get along with the simple illustration. The rest are for me as I won't go in-depth to avoid confusion.
Disclaimer: This is not financial advice. This content is just for educational/entertainment purposes only. Do well to drop your comments and contributions on this too. Trade safely.