Bounced off Daily Zone 1.07971 & Large Daily Wick is Bullish 🤷
Value in Description ⬇️ Beware we have returned close to our extreme prices after an abrupt beginning to the week. Price fell into the abyss as optimistic buyers
were a bit too early like myself. This NY session though we managed to grab a spot on the train. I was bearish walking into the week and was expecting a pullback to these prices. However ,
after that start to the week and observing how the daily candle may close with the large bottom wick, it gives me more confidence that we may blast through the extreme prices
at 1.093. Our next target may be the previous monthly candle wick at 1.103 and which is also the next weekly Zone above where we are currently at (1.088)
NFP on friday will be catalyst for large move here. Especially with this start to the week. We already have a large imbalance and it's obvious.
More analysis : We have created a Lower Low on the 4Hr TF. NFP is setting up early in the week at extreme prices 1.093 area. Retesting, before we move back down to 1.079 and reject extreme prices at a Monthly and weekly S/R level at 1.09.
were a bit too early like myself. This NY session though we managed to grab a spot on the train. I was bearish walking into the week and was expecting a pullback to these prices. However ,
after that start to the week and observing how the daily candle may close with the large bottom wick, it gives me more confidence that we may blast through the extreme prices
at 1.093. Our next target may be the previous monthly candle wick at 1.103 and which is also the next weekly Zone above where we are currently at (1.088)
NFP on friday will be catalyst for large move here. Especially with this start to the week. We already have a large imbalance and it's obvious.
More analysis : We have created a Lower Low on the 4Hr TF. NFP is setting up early in the week at extreme prices 1.093 area. Retesting, before we move back down to 1.079 and reject extreme prices at a Monthly and weekly S/R level at 1.09.
Trade closed: target reached:
1.091 Hit as anticipated with next 4hr candle.
Want to see price hold 1.087 for buys to look good.
Want to see price hold 1.087 for buys to look good.
Comment:
Ahead of Schedule as Weekly Target Remains as 1.103. Monthly Wick Fill.
