Weekly Candle: Bearish, price overall is in a downtrend forming structure to the downside.
Price has broken structure but not pulled back yet.
Daily: Price is in a down trend, it was forming HH and HL's however, price has broke the daily BoS level and fallen further to the downside.
Daily pattern: ascending channel breakout to the downside, price has tapped into a daily demand zone and wicked back up forming a doji.
Daily assessment, Price would need to fall further past the demand level, retest the look for entries that match overall trend.
Currently no CHoCH formed on the daily to signify a pullback, also, the last 7 candles have been Bearish with no pull backs,
4H: Price is in a downtrend making LH's and LL's in line with the overall trend.
Price currently in a pull back towards previous LL level. Price may have made a LL and is now forming a LH.
4H assessment for trade: place sell stop when price moves past CHoCH aiming for 1.08048 as target 1.
Alternative move: against the trend, but price may move higher towards 1.09350 and then retrace, or may move back towards channel towards the 4H BoS.
1H: Price is Bearish, making LH's and LL's, Currently descending
1H entry: aggressive trade would be when price breaks the 1H CHoCH at 1.08712, conservative would be when price breaks the 1H low at, 1.08403.
1:1 R, 34 pip return
Price has broken structure but not pulled back yet.
Daily: Price is in a down trend, it was forming HH and HL's however, price has broke the daily BoS level and fallen further to the downside.
Daily pattern: ascending channel breakout to the downside, price has tapped into a daily demand zone and wicked back up forming a doji.
Daily assessment, Price would need to fall further past the demand level, retest the look for entries that match overall trend.
Currently no CHoCH formed on the daily to signify a pullback, also, the last 7 candles have been Bearish with no pull backs,
4H: Price is in a downtrend making LH's and LL's in line with the overall trend.
Price currently in a pull back towards previous LL level. Price may have made a LL and is now forming a LH.
4H assessment for trade: place sell stop when price moves past CHoCH aiming for 1.08048 as target 1.
Alternative move: against the trend, but price may move higher towards 1.09350 and then retrace, or may move back towards channel towards the 4H BoS.
1H: Price is Bearish, making LH's and LL's, Currently descending
1H entry: aggressive trade would be when price breaks the 1H CHoCH at 1.08712, conservative would be when price breaks the 1H low at, 1.08403.
1:1 R, 34 pip return