Major swing down showing OTE between 1.2790 and 1.2752. This coincides with a bearish hourly order block that occurred at New York Open on the 21st October. This area also covers the 1.2750 mid figure. Given the Durable goods data and consumer confidence data to be released (12:30 GMT) this could provide a run to the entry before reversing short. I will also keep an eye on the USDX to see if this also coincides with the expected support at 85.20 On the daily basis, the 9 is below the 18 EMA which adds further credence.
Any comments gratefully received.
This is my first post and I remain and long time and grateful student of Michael Huddleston (ICT)
i can see any single analyze in internet saying GBP and EUR should make a new LOW :)
this week almost everyone shocked how US still loosing power ,
FOMC just making USD weaker !! i hope this time not
im waiting for 1.27750 to hold the EUR and after i go short ( in case is not breaking with full body candle )
this is very strong KUMO RES and i chimoku in 30 MIN still is bullish , in 4H showing reverse signal ,
mustard
⋅
Considering the possible formation of a Gartley on the H4 chart.
The BC leg would potentially re-test the high from 9 Oct at 1.2791, you may want to set your stops above this.
fxwhitebelt
⋅
Not sure how to add the trade details on the chart but went short at 1.2748 with a stop at 1.2773 and looking for 1.2650 at least. See what happens at London/New York Close
hopiplaka1
⋅
Looks like a great trade, I should have waited for that order block as well :)
fxwhitebelt
⋅
Seems interesting the surge was capped at the 3rd STD of the CBDR. If I don't get stopped out and I get the chance to move the SL to breakeven then I guess it's ok. Hoping for a quicker reaction lower though so not too sure. Happy to lose, insurance paid :-)
hopiplaka1
⋅
I so see the 3 indians heading into a resistance level (1.2720), which is also a bearish order block on the 1H.
We broke market structure to bearish and we retraced in NYO into another 1H bearish order block.
So I assume we will go lower today,, although we hit a bullish order block during LO.
So I think lower today, but might be possible tomorrow during FOMC?
Great setup btw
fxwhitebelt
⋅
Thank you, I appreciate your comments and have been following you on all the previous ICT sites. I didn't notice the 3 Indians so cheers for that, I like the FOMC should it go lower today. Look forward to you future posts and good luck.
this week almost everyone shocked how US still loosing power ,
FOMC just making USD weaker !! i hope this time not
im waiting for 1.27750 to hold the EUR and after i go short ( in case is not breaking with full body candle )
this is very strong KUMO RES and i chimoku in 30 MIN still is bullish , in 4H showing reverse signal ,