A further dig into Sellside liquidity is what we saw last week before closing above the weekly fair value gap, completing a 6-week consecutive run. With that being said, I was expecting a further decline last week with the opportunity for the prior weeks low to be swept @ 1.07227 which we witnessed.
This current weeks trading, I was expecting a sell-off into the depths of the EURUSD abyss but instead, from Monday going into Wednesday, we have seen a bullish price action, with Tuesdays daily candle closing in a premium whilst GBPUSD is still in a discount.
Whilst analysing EURUSD I understood that some of the risks I was taking with my bearish bias is the fact that we have been bearish for an extended period of time + EURUSD hammered into the weekly FVG without closing underneath it + new intra-day lows was created. So I am keeping my eyes peeled @ the 1.08310 upper daily displacement FVG as if I see a daily candle body closure above that region, the probability for 1.07617 Sellside to be taken this week would be slim.
Will EURUSD faulter and drop back into a discount whilst GBPUSD front runs the market or do we get GBPUSD lagging behind with bullish buy stops next in line?
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN
This current weeks trading, I was expecting a sell-off into the depths of the EURUSD abyss but instead, from Monday going into Wednesday, we have seen a bullish price action, with Tuesdays daily candle closing in a premium whilst GBPUSD is still in a discount.
Whilst analysing EURUSD I understood that some of the risks I was taking with my bearish bias is the fact that we have been bearish for an extended period of time + EURUSD hammered into the weekly FVG without closing underneath it + new intra-day lows was created. So I am keeping my eyes peeled @ the 1.08310 upper daily displacement FVG as if I see a daily candle body closure above that region, the probability for 1.07617 Sellside to be taken this week would be slim.
Will EURUSD faulter and drop back into a discount whilst GBPUSD front runs the market or do we get GBPUSD lagging behind with bullish buy stops next in line?
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN
However, it does mean that if DXY is to continue running on short-term buy stops, that would apply much more short pressure on EURUSD , causing price action to trade back in a discount and potentially test this weeks open @ 1.07778