This week I will be covering my sell setup idea towards an area of demand to end up buying with the trend. However due to DXY shift in trend, I will be looking for buys for EURUSD later on. Currently as of now price is inside an area of a 4hr supply zone so im expecting price to react off it to cause a retracement back down.
Scenario (A) - Is for imminent sells to the downside as im currently waiting for price to complete the distribution via a clean CHOCH to the downside, it will hopefully then give us a clean order block for us to enter from. However, if this Supply gets violated (which is possible due to the strong bullish entry in the zone), I will then see that price will want to sweep the liquidity above and tap into the daily supply POI above. This will be ideal as price is at a much premium rate.
Scenario (B) - Is that price will breach the zone we are currently in to take out the liquidity above, once it does that I will be looking for sell oppurtunities around the daily supply zone to target the 1.06400 mark in order to continue the bullish trend upwards. So currently we will be selling down to the demand so we can eventually trade with the trend.
My confluences for EURUSD shorts are as follows:
- Overall trend on the HTF (weekly/monthly) is bearish.
- Price tapped in to a 4hr supply zone and there is a daily supply just above.
- Momentum is slowing down expecting price to distribute and choch to the downside.
- Imbalances were left below due to NFP news so im expecting it to get filled via a pullback.
- For price to continue in its recent bullish trend im expecting price to come back to those demand levels anyways.
P.S. Even though price is bearish overall, It has chnaged charcter and broken structure on the 4 hourly. Short term I am bullish and I will be looking for potential buys, but for now im selling down to eventually buy at a discounted price.
Scenario (A) - Is for imminent sells to the downside as im currently waiting for price to complete the distribution via a clean CHOCH to the downside, it will hopefully then give us a clean order block for us to enter from. However, if this Supply gets violated (which is possible due to the strong bullish entry in the zone), I will then see that price will want to sweep the liquidity above and tap into the daily supply POI above. This will be ideal as price is at a much premium rate.
Scenario (B) - Is that price will breach the zone we are currently in to take out the liquidity above, once it does that I will be looking for sell oppurtunities around the daily supply zone to target the 1.06400 mark in order to continue the bullish trend upwards. So currently we will be selling down to the demand so we can eventually trade with the trend.
My confluences for EURUSD shorts are as follows:
- Overall trend on the HTF (weekly/monthly) is bearish.
- Price tapped in to a 4hr supply zone and there is a daily supply just above.
- Momentum is slowing down expecting price to distribute and choch to the downside.
- Imbalances were left below due to NFP news so im expecting it to get filled via a pullback.
- For price to continue in its recent bullish trend im expecting price to come back to those demand levels anyways.
P.S. Even though price is bearish overall, It has chnaged charcter and broken structure on the 4 hourly. Short term I am bullish and I will be looking for potential buys, but for now im selling down to eventually buy at a discounted price.
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