TradingView
AlkalineFX
Jul 28, 2022 8:34 AM

EURUSD: Buyers Are Drowning 🏊 

Euro Fx/U.S. DollarFXCM

Description

Buyers are taking a real beating, they keep buying but the dollar keeps pumping.

At some point the market will need to give them a sign of relief.

Since we have swept the liquidity below this zone and tapped into a mayor order block, we may begin to see slight relief here.

BUT

Don't think that a bullish candle means a reversal! This is what they will want you to believe.

I am expecting a buy lure followed by a strong sweep before price moves in the intended direction.

Something similar to what I have illustrated.

Of course, this is a long term play and will require lots and lots of patience and trade preparation.

Comment

We may begin to see rejections on this buy zone shortly.
Comments
yonsfx
Love it alkaline
AlkalineFX
@yonsfx, Cheers Yons!
Solldy
Very, very timely idea. It's a great market and entry point for such a strategy.
AlkalineFX
@Solldy, Thanks for commenting!
TheSignalyst
I can agree this zone has been acting as a support for the entire week
AlkalineFX
@TheSignalyst, Time to bounce!
VasilyTrader
Cheers, bro!
AlkalineFX
@VasilyTrader, Anytime mate!
AlgoTradingGroup
EURUSD went as expected and posted

AlkalineFX
@AlgoTradingGroup, Killed it!
More