As mentioned in yesterdays publishing, we were anticipating dollar strength moving into NFP. The market structure was a bit awkward moving into NFP with price consolidating testing to see if it could hold 1.0918 as support. We punched through back to 1.089 with NFP data. Took advantage of these intuitions for the better then consequently ran into risk management issues. Nonetheless we have seen great sell opportunities these past 2 days to end the week and I'm not surprised. Moving into the weekend I think the weekly candle can cointinue to pullback and potentially gap down as we open next week. I've been talking about 1.0918 frequently as it will act as our Fakeout level on 4Hr Timeframe if we are right. If we are wrong, will range and ultimately like the bulls to do a solid break and retest above and beyond 1.0918. Have a good weekend.
Trade closed: target reached
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just closed for +11.5 pips. Scalping weekly candle pullback to end the week.
FOR EDUCATIONAL PURPOSES ONLY
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Looking for a Gap Down to 1.089 4Hr Level on EU as talked about in the original publishing above.
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We were anticpating NFP to make price pullback more to 1.0867. Well IIt didn't turn out until our next weekly candle here. The new weekly candle ranged and retested our strong area of resistance / 4Hr Level at 1.0918 before consequently falling to our weekly target at 1.0867. Nice way to begin the week. Safe Trading.