We have trapped liquidity holding at previous price points that needs to get purged. It is highly unlikely we will leave strongly away from a point In the market without capturing the most liquidity possible.
I would like to see a pullback into the zone marked followed by signs of rejection before I commit to buys into 1914.
It seems to me that EURJPY didn't capture significant liquidity from the first stop loss hunt. Price seems to be pushing up to tap the second zone of liquidity before it hopefully falls into our target area.
A choppy week on gold sweeping liquidity back and forth from both the buyers and the sellers. The next move is loaded and ready, we just need to predict which angle it is going in.
From my analysis, it suggests that bulls will take control to begin the week. I am expecting a drive in the 1914 level before we look again to sell.
It would be highly unlikely that GBPUSD will leave the station without collecting liquidity from the quadruple tops created.
My take on it is that we will see a strong bullish rally from here into the order block holding above the highs before we see that collapse we have all been waiting for.
This pair looks healthy for an upside push before we see a strong bearish sell-off. My first upside target would be the imbalance fill, the second target is the previous high.
Once we see rejections at these points we can flip the bias to sells and look for long term bearish trends.
Liquidity has been swept at the low, lift-off is now ready.
I missed the initial entry point so I will wait for a significant pullback followed by rejection before I buy into the level marked with a tight stop loss.
We have EURO Gross Domestic Product data release at 10:00 AM (GMT+1).
This could be the catalyst to see spikes into order blocks before continuation.
Pay attention to the 4 levels marked.
When we see rejections we can buy/sell continuations.
Dow Jones is gearing up for a downwards swing but price won't go without a fight.
Previously we had a money distribution swing collecting and trapping buyers/sellers liquidity, price is simply toying with people that are holding on tight to sells now.
I would expect one last upside push into our area of interest before a significant collapse.
Volume is building around this dense area in the market.
The recent strong bearish breakout would have triggered some sellers into the market, leaving liquidity resting above.
We can expect a significant pullback into the previous demand level before any signs of a sell-off.
If the price approaches the demand level but fail to reject, sells will be invalidated.
If we view this pair from a larger perspective we will see that in reality all sellers that were lured in at the breakout have now been stopped out.
This could mean that banks have significant liquidity to make the true move to the downside.
I will be waiting on a strong pullback before getting involved in long term sells.