Hey Guys, let me know what you think, basically we had a massive distribution for about 37 days of sideways action hitting all the highs before breaking downward, now we see the corrective phase after clearing the lows of 1.38. And we see another distribution with another break of structure downward. so this means the corrective phase is done, and the second drop is incoming. Yesterday during London session we saw one last attempt to take out early sellers, but knowing all this I instead took that opportunity to stack sells as price went higher for the stop hunts. My first tp is at 1.38 but I expect this do drop much much lower.
Comment:
Take it home bois
Trade closed: target reached:
target 2 hit
1. the upward move initiated by NFP is complete
2. The downward move to 1.37 will begin from here
So now i expect a continuation to the lows of 1.37 and i would also like to see 1.3669 wicked through (to grab liquidity), however all my TPs are set to 1.37 and from there we will study price again. My positions opened on 28/6/2021 around 1.3925 are still running, i will update if the situation changes and my idea becomes invalid.