EURUSD has made a strong push to the upside and closed well above the 0.9700 key level during NY Session (Sept 28). 1H made a clear break of structure to the upside and has been creating higher highs/lows since. Price is reaching a strong Supply Level on the Daily Timeframe which I expect to see some reaction from. I will wait for Price Action confirmations before jumping into what I believe could be a long term Sell. I am overall Bearish on EURUSD and would like to see the following scenario play out:
Price has made a strong push to the upside since trading around 0.9540s. I see this as the Daily Pullback and possible anticipation to a new Impulsive move to the downside.
I don't want to get caught into early SELL positions so I will wait to see how price reacts once it reaches my Supply Level at around 0.9850. From here I will like to see a clear price action confirmation and would enter into a SELL as follows:
Entry: 0.9850 0.9885
Stops : 15 pips above
Targets: 0.9730 0.9600 0.9512
*Again* I want to be very cautious with this SELL as I am aware of the bullish price action on the 4H, and Daily (last 2 candles), I would like to see a 30m and ideally 1H Break of Structure to the Downside to get into this SELL.
Note: This is not to be taken as trading advice and/or signals, please do your own analysis and manage your risk responsibly! Best of luck in your trading
Let me know your thoughts on where you see EURUSD headed next!
Your chart has been manipulated.... when I first look at the chart upon clicking the link in the chat, today's daily bar (when you posted the chart) has a high of .96896, but when I refresh the chart to see where it is right now, the daily bar for today doesn't even show the upper wick going to the high of .96896....? The wick should show the high... something has been manipulated with it seems here...