Hello traders!
EUR/USD: From a Technical perspective, the structural identity on a macro level is in an accumulation phase (see future posts on EUR/USD). However, on a micro level, the structural identity has turned bearish after breaking recent short term higher lows.
From the imbalance zone marked out on the chart, I am expecting price to retrace into the yellow or white zone, preferably the white zone. If price retraces to this zone I will be looking to short this pair once a valid entry pattern has formed on my entry time frame, aiming for a decent risk reward ratio with a tight stop loss refined on lower time frame.
From the Imbalance I am expecting price to fill the liquidity void which should be an ideal take profit area.
In all, this is just a forecast and we should look at this as an analyst using proper rules of entry, stop losses, targets ad risk. Try not to predict the market but react to the story it is telling through informed methodological approach.
A like, comment, suggestions and concerns are welcomed. Regards.
EUR/USD: From a Technical perspective, the structural identity on a macro level is in an accumulation phase (see future posts on EUR/USD). However, on a micro level, the structural identity has turned bearish after breaking recent short term higher lows.
From the imbalance zone marked out on the chart, I am expecting price to retrace into the yellow or white zone, preferably the white zone. If price retraces to this zone I will be looking to short this pair once a valid entry pattern has formed on my entry time frame, aiming for a decent risk reward ratio with a tight stop loss refined on lower time frame.
From the Imbalance I am expecting price to fill the liquidity void which should be an ideal take profit area.
In all, this is just a forecast and we should look at this as an analyst using proper rules of entry, stop losses, targets ad risk. Try not to predict the market but react to the story it is telling through informed methodological approach.
A like, comment, suggestions and concerns are welcomed. Regards.