What's popping traders✌️
First I must say this is my favourite pair (after GBPUSD), for one reason. This pair moves the most during after a volatile week, which is good for when you can't trade the Major pairs due to Low liquidity or an upcoming event.
Back to the chart:
We have our Chart for this week with monday already playing out.
On the RED CIRCLE we see a reaction to 4hr supply zone creating a resistance level as well.
BUT THEN, to our surprise, price rebounds back to previous resistance to mitigate supply. This is later taken out by the fresh demand zone (rejection block) and broke structure. With the bullish trend being steep and supported quite well due to the good gains and strength of Euro that's currently not looking weak at all.
So as indicated. We have:
1. FRESH demand zone ,
2. 1hr imbalance
3. Break of structure.
4. Unmitigated supply and imbalance above. IT IS A LONG STRETCH, therefore price needs to keep supporting price to reach the supply and possibly the swing high.
📈I SHARE MOST OF MY CHARTS FOR JOURNAL ACTIVITIES AND BACKTESTING. WHILE SOME WILL FAIL, THE ONES THAT WIN WILL INCREASE THE WINNING PROBABILITY. WHILE THE LOSSES ARE KEPT SAFE ON THE PROFILE FOR FUTURE REFERENCE AND TO BE ABLE TO LEARN FROM OLD FAULTY CHARTS.
First I must say this is my favourite pair (after GBPUSD), for one reason. This pair moves the most during after a volatile week, which is good for when you can't trade the Major pairs due to Low liquidity or an upcoming event.
Back to the chart:
We have our Chart for this week with monday already playing out.
On the RED CIRCLE we see a reaction to 4hr supply zone creating a resistance level as well.
BUT THEN, to our surprise, price rebounds back to previous resistance to mitigate supply. This is later taken out by the fresh demand zone (rejection block) and broke structure. With the bullish trend being steep and supported quite well due to the good gains and strength of Euro that's currently not looking weak at all.
So as indicated. We have:
1. FRESH demand zone ,
2. 1hr imbalance
3. Break of structure.
4. Unmitigated supply and imbalance above. IT IS A LONG STRETCH, therefore price needs to keep supporting price to reach the supply and possibly the swing high.
📈I SHARE MOST OF MY CHARTS FOR JOURNAL ACTIVITIES AND BACKTESTING. WHILE SOME WILL FAIL, THE ONES THAT WIN WILL INCREASE THE WINNING PROBABILITY. WHILE THE LOSSES ARE KEPT SAFE ON THE PROFILE FOR FUTURE REFERENCE AND TO BE ABLE TO LEARN FROM OLD FAULTY CHARTS.