Since DXY is consolidating there's no actual direction right now. Juts trade within the range and don't expect much. Since price broke a high price can reverse and go a bit lower just like how it did yesterday. Either buy to sell or sell to buy scenario.
Looking for a sell on Eurjpy on the last but before the sell which took liquidty (Equal highs). The order block is in the premium price level. Targeting once again clean equal lows. Similar to my EU set up.
Look for an rejection or engulfing candle in the area of our entry or place a buy limit.
Wait for an rejection or wick in this area then wait for that rejection to close, then take the trade or place a SELL limit/Buy limit.
FX:USDJPY On the 45M chart I noticed a solid sell to buy candle. No wicks. Seems like an institutional candle that needs to be mitigated. Plenty of imbalances in the bullish candles following that need to be filled. IF ( BIG IF) we see USDJPY have a large pull back, I think we could see a buy at the 104.765 area. SL is less than 20 pips with a great return,...
Look for an rejection or engulfing candle in the area of our entry or place a buy limit.
Smart Money is soaking up liquidity This whole zone including the possible h&s patterns completion is within a zone a range of consolidation on higher timeframe thus you can view it as a market top and potential trap zone. The USD still has room to breathe and reach within the zone of 100.60-105.60 before it tops and consolidates on higher timeframe
1. Smart Money Setup currently soaking up sellers 2. Bearish Bat forming (completing the C-D bullish leg)
Beautiful Wyckoff Distribution Schematic 1 on the weekly timeframe, price is now creating the LPSY which will break the ice for the next drop to occur sending price on a markdown. Nice Smart Money Sell Setup. They tricked dumb money into buying allowing them to enter sells at discounted price levels. Price has settled below the WAP where it is now creating the...