Price was correcting , making a lower high, until momentum kicked in, breaking through previous structure lows and the 'bear flag'.
It should respect the higher timeframe's channel, since it has been doing it for the past several days. So, odds are on our side.
We should then expect a reversal, only confirmed by price breaking previous...
We swear banks brought out all the rubbish on the internet to confuse people So they lose money.
Keeping it simple is so much easier and profitable. Just get good a drawing naked charts.
There's a short coming up at the key level. We will watch for price action and update clients.
Smart money took out the equal lows and captured a tonne of liquidity from retail traders on 26/5 which led to
a strong bearish move down, the target ? was to mitigate orders thatchy were in drawdown in from old contracts, after mitigating and filling in the imbalance of price action created on 9/3/2020, Smart money then commenced instigated reversal (as...
USDJPY does not seem to be correlating with the DXY unlike EURUSD.
Smart-money clearly has an agenda here and it is highly probable that they are heading to the area highlighted (in blue) where we can see some imbalance in price action in the daily candle (26th March). So this area is where I will be focusing on and looking at (thats why I put the eye icon there)...
No doubt you will agree with me that EUR USD is looking extremely Bullish at the moment, but how long will it last?
My expectation is that price will hit the 1.13-1.135 area highlighted, then look to turn around from there.
Smartmoney took out and grabbed the liquidity ($) from the late March highs as expected after taking the highs out from April and May.
Note this is a long term projection based on daily price action.
As expected liquidity was taken from the equal highs of February, March and April, the next step is for Smart money to push price
higher to mitigate the weekly candle which is overlapped by the institutional candle of 13/1/2020, also meeting an institutional price level of 122.00.
EURUSD one of my personal favourite pairs.
With this we are watching price on the lower timeframes (1D,4h,1h) move sideways so some good buys and sells at Support & Resistance but the overall picture is we are fast approaching a key level that as been respected since 2003 and this is where we could see price go into the Accumulation phase before EURUSD finally...