We’ve seen price trending lower following USD strength driven by geopolitical tensions.
The daily structure has broken to the downside, printing a new lower low and confirming a bearish market structure.
However, over the past few weeks, price has been consolidating, which may indicate a short-term reversal. This aligns with the current structural bias — after a break in market structure, we typically expect a pullback in the opposite direction to sweep liquidity before the next impulsive move, which should form a new swing point in line with the prevailing trend.
That’s the reasoning behind this long position.
On the 4H timeframe, price appears to be losing bearish momentum. Order flow is shifting bullish, with price trading above the 4H EMA, supported by strong bullish candles, while downside moves are showing weaker price action (dojis and low-momentum candles).
The daily structure has broken to the downside, printing a new lower low and confirming a bearish market structure.
However, over the past few weeks, price has been consolidating, which may indicate a short-term reversal. This aligns with the current structural bias — after a break in market structure, we typically expect a pullback in the opposite direction to sweep liquidity before the next impulsive move, which should form a new swing point in line with the prevailing trend.
That’s the reasoning behind this long position.
On the 4H timeframe, price appears to be losing bearish momentum. Order flow is shifting bullish, with price trading above the 4H EMA, supported by strong bullish candles, while downside moves are showing weaker price action (dojis and low-momentum candles).
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.