The Weekly candle has touched into 1.1012, only 12 pips from our weekly resistance level 1.1024. On the daily timeframe we can observe a bearish candle Shooting star rejection candle is forming and price is currently below our 1.098 Daily S/R Zone. On the 4Hr timeframe we can observe price having issues with the 1.0995 4Hr Supply zone. The 2nd London 4hr candle has just closed bearish with a top wick twice the size of the body. The new 4hr candle thus far has confirmed our bearish thoughts as it has pushed down 14 pips in the first 15 minutes. 1Hr Timeframe : Price retreated during asian session pre-london towards our Daily S/R Level 1.098 which I capitalized on. We then rejected 1.098 S/R Zone upon initial retest as I forecasted in my prev publishing. We ran the highs from asian session and price made it's way a bit higher before pulling back hard for New York session open. We can observe clean traffic going back down 1.0956 and this is what I'm looking for to play out with sell stops .
Trade closed: target reached:
Price has reached out target 1.0956 and I was able to capitalize on this move. We had clean traffic on the 1Hr timeframe to mirror yesterday's move and correct back down. Now that price has retreated to our target we may observe a range until we see more confirmations for longs from these lower prices. Price is in an uptrend on the Daily/Weekly timeframes so I'm anticpating a volatile range on Friday to end off the week.
