My favourite pair has been really nasty this week. Only Monday provided some great short setups, but I didn't have the chance to trade on that day. Tuesday was a complete mess. Of course, there were some little scalps, but nothing worth taking.
We are having a lot of speeches this week, which I believe are causing that consolidation. Furthermore, the Monthly close is coming, so the market is slowing down just before that. Keep those factors in mind.
As for the markup, I am expecting the market to play within the range probably. We have a sell and a buy area. I am favoring sells much more, because we are in a downtrend! So letting the market show me what it wants to do and only then I will strike.
No trades still for me... It's painful and really challenging, but as a professional, you have to know when to engage and when to observe!
Let me know how you find this week so far!
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The market just dumped! Unfortunately, there was no pullback into the sell area to take a high probability sell. And the buy was just invalidated for minutes.
Adapting now and potentially would love to follow the bearish momentum! I would expect pullback days maybe on Thu and Fri, but today could be bearish continuation.
Hey Iliya the prices just broke the consolidation in 1hr (with retest of the box). It also break the 1.6700 support and the supply zone arround that support. Will you consider to go in shorts now?