We've blown past my level of interest and almost had an SFP of the lower Daily level at 1.11096. It was close, but no cigar. However this level still remains a level of interest as we can SFP it on the Daily TF.
My next level of interest for price action on the hourly chart is 1.11638. It'd be ideal if we could SFP the hourly level, build a lengthy wick back down and close below (effectively SFP-ing) the (stronger) Daily level. Could ride that trade down. Unlikely, but always possible.
Note that if you depend on wicks for market structure, today we've broken the previous LH which could mean overall bullishness (or consolidation) to come.
High impact news for both side of this pair today, expecting volatility.
My next level of interest for price action on the hourly chart is 1.11638. It'd be ideal if we could SFP the hourly level, build a lengthy wick back down and close below (effectively SFP-ing) the (stronger) Daily level. Could ride that trade down. Unlikely, but always possible.
Note that if you depend on wicks for market structure, today we've broken the previous LH which could mean overall bullishness (or consolidation) to come.
High impact news for both side of this pair today, expecting volatility.
Comment:
Neither set up occurred and I'm not going to be looking at opening any positions tomorrow. I've gone ahead and adjusted the Weekly Fib's swing high point to 1.14122. Let's see if we can reach for 1.11638 next week.
Comment:
Price is getting close to my level of interest, looking like a very strong overall move that could bring a decent opportunity to fade it.
Comment:
We closed above the level, SFP invalid on both timeframes.