A classic move back to an area of liquidity. Anticipating a move back down to last weeks low over the next few days. This is a high risk opportunity as it goes against the current retail sentiment however the potential payoff is big.
Disclaimer: this is not a signal or financial adive. Please do your due deligence.
Strong selling pressure these past few days with price now sitting near where it opened at the beginning of the month. With price creating a false s/r potentaily attracting retail sellers into the market looking to capitalise from the bearish market, we anticipate a run on the stops of these sellers with a continued downward move towards 1.89250.
With price rejecting January low, the market is considering the possibility of a bullish reversal for this pair. However, we see a strong likelihod for price to continue its downtrend towards 1.52500 a QP level and 1.51739 a daily OB level where we can see the possibilty of a stroger rejection leading to a possibly bullish reversal.
WTI Crude is beginning to show signs of weakness after a 4 months bullrun. We see the possibility of a short term sell off to 57.40 a QP level with potential buyside liquidity. There are two potential areas of entry: 60.00 a QP level and 60.62 a OB level. Both positions targeting 57.50 with an oportunity to take some profit at 58.50.
This does not suffice as a...
After an intraday bearish cycle, price is now sitting at an area of potential high liquidty near the low od December 2020. Price is also sitting on a H4 OB with the potential of a bullish reversal around this price level. Entry at 1768.50 with 3 profit targets: 1810.900; 1844.500 and 1898.000.
Price has been reinducing and trapping for 2 sessions within level 1. Given there is enough liquidity, anticipating price to move into the next level over the next few sessions. Limit order entry at SQP price. This is a potential intraday position
perfect short opportunity on this pair. Limit order entry at MSQP level. Price may not test that level again as it has already been trapped throguh earlier on Tuesday. If limit order is not triggered, I will look for a entry opportunity within London session to execute a market order.
Structurally this looks great for a second session rise. However, I am slighly cautious due to the EMA fanning out. It is possible for price to retest the Low of the Week so far. Considering that the correlated Indices are lined up, I wiill take this trade though with a lower risk than usual. Limit order at SQP level with a 1:2 R:R
Price has already trapped around prior 000 though there is a chance a pullback/reinducement might occur during new york session tomorrow. Ive placed a sell limit at this price point. The R:R for this setup is 1:2