EU's has been on a DAILY pullback phase since the break of its 4H lower key level last friday May 12, 2023.
so a recap for the Direction of the overall timeframes to trade.
Weekly - Bullish (impulsive)
Daily - Bullish (on pullback phase)
4H - bearish (impulsive)
15min - Bullish (pullback of 4H)
Key levels range to watch this US Session are (1.10958 - start of the Daily pullback and also start of 4H impulsive phase bearish, high Key level & 1.08448 - start of the 4h pullback, start of 15min impulsive phase bullish )
so as for a scalper my opinion is to take only the 15min trend inside the 4H pullback and for the direction is LONG.
need to find a 5min range inside a 15min range heading bullish (5min structure ) and confirm it to 1min timeframe for medium probability trades, since we are on a pullback of 4H anytime it can burst down from the heavens and wipe small accounts on the way. so be mindful of the structure on the 5min inside a 15min range. and stop buying as soon as it touches the 50% fibo or a 15min bearish had happened inside the 4H range. only take 15min bullish range to buy inside the 5min timeframe range.
so as for the swing, 4H swing to be precise if US is strong in this week 4H swing shall commence above 50% of the fibonacci retracement i placed on the 4H range. and the Direction for this scenario is SHORT, what to look for?
we will look for the 15min Bearish structure in order to take the Sell to ride it to the weak low key level 1.08448.
once we see or rather the market prints a 15min bearish structure above the 50% fibo we can now assume to take a short IF it can produce a 5min bearish structure, and confirming the continuation of the 15min bearish trend inside above 50% fibo.
over all direction is SHORT unless it breaks the higher key level 1.10958 without doing a structure break of 4H.
so a recap for the Direction of the overall timeframes to trade.
Weekly - Bullish (impulsive)
Daily - Bullish (on pullback phase)
4H - bearish (impulsive)
15min - Bullish (pullback of 4H)
Key levels range to watch this US Session are (1.10958 - start of the Daily pullback and also start of 4H impulsive phase bearish, high Key level & 1.08448 - start of the 4h pullback, start of 15min impulsive phase bullish )
so as for a scalper my opinion is to take only the 15min trend inside the 4H pullback and for the direction is LONG.
need to find a 5min range inside a 15min range heading bullish (5min structure ) and confirm it to 1min timeframe for medium probability trades, since we are on a pullback of 4H anytime it can burst down from the heavens and wipe small accounts on the way. so be mindful of the structure on the 5min inside a 15min range. and stop buying as soon as it touches the 50% fibo or a 15min bearish had happened inside the 4H range. only take 15min bullish range to buy inside the 5min timeframe range.
so as for the swing, 4H swing to be precise if US is strong in this week 4H swing shall commence above 50% of the fibonacci retracement i placed on the 4H range. and the Direction for this scenario is SHORT, what to look for?
we will look for the 15min Bearish structure in order to take the Sell to ride it to the weak low key level 1.08448.
once we see or rather the market prints a 15min bearish structure above the 50% fibo we can now assume to take a short IF it can produce a 5min bearish structure, and confirming the continuation of the 15min bearish trend inside above 50% fibo.
over all direction is SHORT unless it breaks the higher key level 1.10958 without doing a structure break of 4H.