Time is Ticking ⏳-> Market Structure & Pin Bar Daily Candle
What are your thoughts on the Daily Pin Bar that closed bullish?
0:0 Monthly timeframe
2:02 weekly timeframe
3:22 Daily timeframe
8:23 4hr timeframe
11:17 1Hr timeframe
As Eurusd Swept past the Monthly lows by 30 pips today, I 😁 because I called it out on the channel. Manufacturing data acted as a catalyst to continue the trend bearish. Was it luck when you are right? Idk but trading with the trend is often the Shrewd thing to do. The majority of participants whom share their thoughts on trading view here were heavily buy biased. This is precisely why the market moved down so swiftly with manufacturing data as many participants were liquidated in a short period of time as the pyramiding concept took over and there was an avalanche of liquidations. An important part to running a successful small business as a trader begins with having a mind of your own. Doing your own analysis and crafting your own view of market activity. With this said, I'm biased towards the long side as we are towards the lows of structure on the Daily chart and structure. I could be wrong and is why I always stay very flexible. It's not about being right, it's about making money.
0:0 Monthly timeframe
2:02 weekly timeframe
3:22 Daily timeframe
8:23 4hr timeframe
11:17 1Hr timeframe
As Eurusd Swept past the Monthly lows by 30 pips today, I 😁 because I called it out on the channel. Manufacturing data acted as a catalyst to continue the trend bearish. Was it luck when you are right? Idk but trading with the trend is often the Shrewd thing to do. The majority of participants whom share their thoughts on trading view here were heavily buy biased. This is precisely why the market moved down so swiftly with manufacturing data as many participants were liquidated in a short period of time as the pyramiding concept took over and there was an avalanche of liquidations. An important part to running a successful small business as a trader begins with having a mind of your own. Doing your own analysis and crafting your own view of market activity. With this said, I'm biased towards the long side as we are towards the lows of structure on the Daily chart and structure. I could be wrong and is why I always stay very flexible. It's not about being right, it's about making money.
Comment:
Price has thus far gone bearish on the day with Unemployment claims data acting as a catalyst to further a continuation of the overall trend to the downside. The new 4hr candle closed a solid body bearish candle suggesting more downside to come. However, this is beginning to look like a range with the first 1hr candle of this new 4hr candle pulling all the way back up. High of the range being 1.086-700 1hr/4hr Resistance and 1.0805-1.0815 being the support. Maybe we'll see a retest of this new low that has just formed at 1.0815. If we begin getting solid candle closures back above 1.0845 daily support level, then I will begin looking for Scalp buys back to 1.086-7
