As of right now we have seen this pair make strong pushes to the downside on the Weekly.
The previous week we got an impulsive move to the upside (4H) and it is currently correcting itself while
approaching a Key 4H Macro zone to look for possible Sell entries. If my m15 micro zone does not give
any key signals, then I will look to void the zone and reassess given the day/week and overall gain more data
on where price could be looking to head. Another thing I'm looking for; if price breaks early I will notice the BOS
on my m15 then adjust accordingly.
The previous week we got an impulsive move to the upside (4H) and it is currently correcting itself while
approaching a Key 4H Macro zone to look for possible Sell entries. If my m15 micro zone does not give
any key signals, then I will look to void the zone and reassess given the day/week and overall gain more data
on where price could be looking to head. Another thing I'm looking for; if price breaks early I will notice the BOS
on my m15 then adjust accordingly.
Trade active:
Price reacted from the 4H macro zone as anticipated and is now up over 200 pips from initial entry of the zone. Will continue to follow bearish movement until otherwise. Follow for more chart analysis to come.
Comment:
Given the amount of volume created and closed by the bearish move out the macro zone, it has validated the bearish projection. A full retest after this move would be concerning. I have used my fibonacci tool to measure 50 of this candle which is where I will be looking for more bearish opportunities. For the sell the valid, I need to see any key signals I look for when price reaches the 162.600 range.
Trade closed: target reached
