Price has been in a consolidating pattern for over a week on EURUSD. Last week (3rd week of January) saw a distribution pattern emerge. We have currently made a HH after a strong bearish impulse to 1.0782. I would be watching for breaks in structure now as the signal to sell to 1.0603.
*As always, trade cautiously.
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I took my sell entry. Would keep watching to manage the trade.
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There's going to be a pullback, trade cautiously.
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I might be looking for a buy setup to sell entry in NY session.
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I took a buy position to sell entry.
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hmmm, there might be a pullback
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I would be expecting a pullback into NY session.
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Buying...
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All trades risk free.
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hmmm, this is not good. Price doesnt look like it would break the recent high. I would wait for a 5mins, retest to close the buy positions, and sell.
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This is what I am expecting.
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Entered.
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I took another entry
Trade closed: target reached
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Tp'd And EURUSD sell is confirmed.
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I would be expecting this price action to preserve the bearish momentum.
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I am waiting for LIQUIDITY to be taken out, then I would sell on BOS lower.
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I am monitoring these entries, but I have entered sell positions.
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took new entries.
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closed my positions yesterday, SL hit my BE.
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I would be watching for price reversal at this zone.
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Price action is making me consider price doing this:
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Holding to TP.
Trade closed: target reached
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TP'D. Would be watching for reversal now.
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I am waiting to see if this high would be broken to confirm bullish momentum. Overall, it is still a distribution pattern.
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Currently, I am still watching, but my sell bias is over.
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Last trade setup for the day and hopefully for this sell analysis.