Its been a moment since I posted here, so lets look at EURUSD. Since EU broke past the 1$ level, we have seen a subtle correction in price, and have been moving sideways ever since. We currently have some imbalance above our range and a POI above that. Also the 1$ level itself, is quite a large liquidity pool, and my reason for saying this is as follows: Below the...
I feel this chart may speak for itself to an extent. Now we have prices below the 2017 lows, we don't have much right now to stop EURUSD from dropping further until we look at price from around the beginning and end of 2002. Trade safely. let me know what you think EURUSD will do.
On the 4h timeframe and higher, we can see that we have created a Demand zone, however the break of structure isn't clear on the 4h. On the 2h however, the break of structure is clearer. So what I shall be looking for from here is, I will need to see a mitigation of the 2h demand, and then some commitment on the LTF such as 1-5m that we're going to turn bullish...
EURUSD seems to be sat between 2x POIs on the 4h. I have no issue scalping between these zone, however the higher probability trades will be more likely in or around the 4h zones. Usual story, once we see a mitigation of either of these zone, we'll wait to see if there's a lower time frame entry that meets our rules.
Price has made a clean mitigation of the 1H supply zone, there was an entry on the 1m demand after the 1h mitigation, however it occurred whilst I was asleep so no trade taken.