Bullish trend indentified.
Parallel channel is broken to the downside loosing volume as price falls.
Swing highs and lows are defined as HH1, HL1, HH2, HL2.
Two valid demand areas are identified but will focus on the most fresh demand which as a liquidity pool right above in the attempt of satisfying the imbalance that cause the BOS originating HH2. This area is also at a discounted price for the last structural move.
The orange rectangle can be taken as a manipulation area adding more confirmation that price will bounce in the area between 98.677 and 98.471
Taking profit on the last high
stop loss 2,3 pips below 98.471
Parallel channel is broken to the downside loosing volume as price falls.
Swing highs and lows are defined as HH1, HL1, HH2, HL2.
Two valid demand areas are identified but will focus on the most fresh demand which as a liquidity pool right above in the attempt of satisfying the imbalance that cause the BOS originating HH2. This area is also at a discounted price for the last structural move.
The orange rectangle can be taken as a manipulation area adding more confirmation that price will bounce in the area between 98.677 and 98.471
Taking profit on the last high
stop loss 2,3 pips below 98.471
Trade closed: stop reached