Price has come back to buy areas whilst taking out liquidity with the CAD unemployment news last week. I believe we can now rally higher again to take out equal highs and imbalances left in the market.
As we get closer to Brexit the £ has gained a lot of bullish momentum, I believe it to be short lived and we should see a big sell coming from my area. Being patient with this one as it looks like it is lining up.
Looking for USDCHF to reach my area in order to enter a buy, Price did not fill the imbalance above and created liquidity also when coming down, this may not play out this week but could fulfil my criteria to trade it.
Price is approaching the 88.6% fib area which i am looking to play off of as well as filling in imbalance left in the market where price declined from. I have also highlighted the last up candle before price shot down from.
Price action is showing it has captured liquidity by taking out equal highs, it has also filled an imbalance in the market and is showing signs of a reversal, i will be looking to enter off of a retest on the candle which has captured liquidity if price continues its way down by the London session.
I have identified an area for price to rise towards to fill imbalance in the market, would like a retest off of last down candle before going long. When target has been met I would like to see a reversal to the downside to clear equal lows that have been created.