EURUSD 1H Mod-Schiff retest
X= last structure support
B= price breaks structure
Once B prints we look for a pullback to create C
C= Is this the pullback?
Add the Mod-Schiff set to see if we get some frequency.
D= A strong test and rejection of the UML.
Place immediate sell order.
This can be at the UML (1.0734) or slightly in front of it depending on your preferences. I choose a couple of ticks inside (1.0731)
The S/L must be above C as no other structure to hide behind. C is also not structure at this point. It’s just a pullback high which seems to have sellers showing up.
E= The retest of the UML gives me an entry.
F= an alternative entry also at the UML. You could put a stop above C or D ( 20 or 15 pip risk)
Once price breaks the energy coil, and touches the ML, I move to B/E.
G= T/P at the LML.
X= last structure support
B= price breaks structure
Once B prints we look for a pullback to create C
C= Is this the pullback?
Add the Mod-Schiff set to see if we get some frequency.
D= A strong test and rejection of the UML.
Place immediate sell order.
This can be at the UML (1.0734) or slightly in front of it depending on your preferences. I choose a couple of ticks inside (1.0731)
The S/L must be above C as no other structure to hide behind. C is also not structure at this point. It’s just a pullback high which seems to have sellers showing up.
E= The retest of the UML gives me an entry.
F= an alternative entry also at the UML. You could put a stop above C or D ( 20 or 15 pip risk)
Once price breaks the energy coil, and touches the ML, I move to B/E.
G= T/P at the LML.