Nice liquidity zone and resistance forming at this level.
Looking for price to drop back down from here with 2x profit target levels at various points.
I will keep my stop loss way above the wicks and liquidity zone at this level.
Using ICT Concpets, it’s led me to believe EU has a potential rally down, it took out a double top, an area of Liquidity where Smart Money can sell, its retested a breaker used to mitigate orders, so now overall bias is to short EU to the double bottom, another HTF level of Liquidity, maybe EU will reach for the range Low
Weekly & Daily order flow of price is within an area or areas (order blocks) where price likely to reverse & changes direction. Added confluence with daily trend structure & distribution of price in Monday's trading session where liquidity underneath price wasn't taken out give me the heads up to look for shorts for Japanese yen.
Entry @ 113.74. If this position...
weekly blocks have been touched, with a lot of resistance the 1 hour clear resistance was violated the 4 hour level of 1.208 should be touched as a first target (green line) the huge void created liquidity accumulation has happened before to build charge take out stops and then come crashing down like before.