WC1202 EURUSD Outlook: Waiting for reversal to position LONG
Price is at a key zone atm.
Markups and notes on the chart but essentially I am waiting for price to signal for a long entry -- potentially at the low of previous month or at the H4 OB / unmitigated demand area within the key zone (blue highlight). The 50% of the H4 OB is in confluence with the 27ext. This area is also a 50's level. Either way, I am looking to see price tap either and rocket up.
If price doesn't want to further go down, and my bias is wrong, we are just going to wait for a break & retest of the 0700 level and hold to the upside @1.1200 area
Markups and notes on the chart but essentially I am waiting for price to signal for a long entry -- potentially at the low of previous month or at the H4 OB / unmitigated demand area within the key zone (blue highlight). The 50% of the H4 OB is in confluence with the 27ext. This area is also a 50's level. Either way, I am looking to see price tap either and rocket up.
If price doesn't want to further go down, and my bias is wrong, we are just going to wait for a break & retest of the 0700 level and hold to the upside @1.1200 area