4hr TF.
The higher-timeframe picture resembles the following:
• The weekly chart shows the sellers have nearly reached the weekly demand area at 0.76931-0.78623. Any short orders currently in the market should now be carefully monitored.
• A break south has been seen below daily demand at 0.78862-0.79206, price should be relatively free now to hit the next daily demand area below at 0.78117-0.78533, however, expect the possibility that price may rally to the 0.79751area before hitting the aforementioned daily demand area below.
A break above the round number 0.79000 has been seen, and a rally north up to the 4hr decision-point area at 0.79277-0.79170 followed as reported may happen in the last analysis.
We still do expect a bearish reaction from here, as the 4hr demand area directly below at 0.78862-0.79048 has very likely been consumed. Essentially, what this may mean is price is free to hit the 4hr demand area even lower at 0.78602-0.78320, what great R:R this trade would give! However, traders should be aware that directly above the 4hr decision-point area (0.79277-0.79170) there is a minor 4hr S/R flip level at 0.79358. Price could very well push above the aforementioned 4hr decision-point area to this 4hr S/R flip level, this would effectively stop out the majority of the sellers who have set their stops too close, thus giving pro money buy orders (once the stops are hit, the orders will now be buys) to sell into.
Pending/P.A confirmation orders:
• No pending buy orders (Green line) are seen in the current market environment.
• No P.A confirmation buy orders (Red line) are seen in the current market environment.
• Pending sell orders (Green line) are seen just below a supply area (0.79795-0.79684) at 0.79651. The reason for a pending sell order being set here, rather than a P.A confirmation sell order was because this area looks very hot for a first-time reaction. Notice how price faked above the S/R flip level at 0.79679 then dropped back down, there is very likely unfilled sell orders still lurking around this area, hence the need for a pending sell order.
• The pending sell order (Green line) set just below a decision-point area (0.79277-0.79170) at 0.79143 is now active, so do keep an eye on our first-take profit level at 0.79000.
• No P.A confirmation sell orders (Red line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C: No P.A confirmation buy orders are seen in the current market environment.
• Areas to watch for sell orders: P.O: 0.79651 (SL: 0.79828 TP: Dependent on price approach) 0.79143 (Active) (SL: 0.79313 TP: 0.79000 0.78602). P.A.C: No P.A confirmation sell orders are seen in the current market environment.
The higher-timeframe picture resembles the following:
• The weekly chart shows the sellers have nearly reached the weekly demand area at 0.76931-0.78623. Any short orders currently in the market should now be carefully monitored.
• A break south has been seen below daily demand at 0.78862-0.79206, price should be relatively free now to hit the next daily demand area below at 0.78117-0.78533, however, expect the possibility that price may rally to the 0.79751area before hitting the aforementioned daily demand area below.
A break above the round number 0.79000 has been seen, and a rally north up to the 4hr decision-point area at 0.79277-0.79170 followed as reported may happen in the last analysis.
We still do expect a bearish reaction from here, as the 4hr demand area directly below at 0.78862-0.79048 has very likely been consumed. Essentially, what this may mean is price is free to hit the 4hr demand area even lower at 0.78602-0.78320, what great R:R this trade would give! However, traders should be aware that directly above the 4hr decision-point area (0.79277-0.79170) there is a minor 4hr S/R flip level at 0.79358. Price could very well push above the aforementioned 4hr decision-point area to this 4hr S/R flip level, this would effectively stop out the majority of the sellers who have set their stops too close, thus giving pro money buy orders (once the stops are hit, the orders will now be buys) to sell into.
Pending/P.A confirmation orders:
• No pending buy orders (Green line) are seen in the current market environment.
• No P.A confirmation buy orders (Red line) are seen in the current market environment.
• Pending sell orders (Green line) are seen just below a supply area (0.79795-0.79684) at 0.79651. The reason for a pending sell order being set here, rather than a P.A confirmation sell order was because this area looks very hot for a first-time reaction. Notice how price faked above the S/R flip level at 0.79679 then dropped back down, there is very likely unfilled sell orders still lurking around this area, hence the need for a pending sell order.
• The pending sell order (Green line) set just below a decision-point area (0.79277-0.79170) at 0.79143 is now active, so do keep an eye on our first-take profit level at 0.79000.
• No P.A confirmation sell orders (Red line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C: No P.A confirmation buy orders are seen in the current market environment.
• Areas to watch for sell orders: P.O: 0.79651 (SL: 0.79828 TP: Dependent on price approach) 0.79143 (Active) (SL: 0.79313 TP: 0.79000 0.78602). P.A.C: No P.A confirmation sell orders are seen in the current market environment.
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