TradingView
SaulFX_11
Oct 17, 2019 10:19 AM

EU DEMO 10/17/2019 (2) 

Euro Fx/U.S. DollarFXCM

Description

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.

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.
Comments
SaulFX_11
We closed above the level, SFP invalid on both timeframes.
More