we've seen liquidity taken around 20-30 pips below institutional level showing stops have been swept, waiting to see bank mitigation and a long should be valid around new york session after London creates expected low of the day
Price has taken internal liquidity and is best set to return and sweep 20-30 pips higher to hit resting order to fuel a down move to clear out the corresponding external liquidity - this move will be expected within Tuesday - Wednesday, with London session creating the high of the week, we should be able to follow this down to the profit target, taking partial...
We have a clear 'Triple Top' and have created a neckline entry point, we have also gone below the 200 SMA and we have very clear Regular Bearish Divergence, take your profit in this golden zone which is the 50% and 61.8% Fibonacci retracement
We have bullish divergence on the OBV, as well as this you can see from the market structure, price has hit off the golden zone and is now its way to rally and complete an 'M' shape which is a very important pattern when trading Forex. Once price hits the resistance to complete the 'M', only then will it be time to go short on this currency pair.
We have just completed a head and shoulders pattern on the 4 hour time frame and now it looks like price is going to push up due to the bullish hidden divergence and also the bullish pennant pattern. Price is likely to have a small retracement at the golden zone(Either at 50% or 61.8%), but is expected to carry on to the upside.