Eu Price action analysis coming into the London session
Good Morning traders and welcome to another day!
Today EU is providing us with LOTS of information about potential moves.
Currently we are in a daily uptrend, however the 4hr and 1hr are in down trends.
We can see a recent push to the downside, this has created a sell range. We have a GREAT 15min range to target where the move initiated from. Also Equal highs (theses provide liquidity for banks to sweep).
Along with the EQH we can also see liquidity being built for a downside move. Price is pulling back from the Asian high which is also an EQH. I expect the market will push through this area, "sweeping" the range and push into the 15min range. At this point I will be targeting a sell-it would be a no brainer.
While I am bias to the short trade here-the daily does have upside momentum which I wont lose sight of.
Today EU is providing us with LOTS of information about potential moves.
Currently we are in a daily uptrend, however the 4hr and 1hr are in down trends.
We can see a recent push to the downside, this has created a sell range. We have a GREAT 15min range to target where the move initiated from. Also Equal highs (theses provide liquidity for banks to sweep).
Along with the EQH we can also see liquidity being built for a downside move. Price is pulling back from the Asian high which is also an EQH. I expect the market will push through this area, "sweeping" the range and push into the 15min range. At this point I will be targeting a sell-it would be a no brainer.
While I am bias to the short trade here-the daily does have upside momentum which I wont lose sight of.