Price just made its way into a previous monthly resistance that could hold as support for a little longer. We definitely had some buyers waiting there in the previous months showing the strength of this level. (ORANGE LINE)
1.12150 is our support which has been holding back that bearish momentum. There's also a break of structure on 4h at this level. Reinforcing my speculation for about a 100 pip pull pack. Targeting our daily LH for 100% retracement. My bias will change if the market closes below the 4h support. If that happens I will wait for the market to show me a high probability trade. The beginning of the weeks and months are hectic. so be careful not to get caught up in the mess.
This is just speculation from my experience with EU. It's known for saying goodbye before leaving a range. I also have 2 take profit levels in case the market turns around sooner.
I want to remind you to not piggyback of my ideas and have your own bias. I will be fine if my trade works out or not. RM is key.
1.12150 is our support which has been holding back that bearish momentum. There's also a break of structure on 4h at this level. Reinforcing my speculation for about a 100 pip pull pack. Targeting our daily LH for 100% retracement. My bias will change if the market closes below the 4h support. If that happens I will wait for the market to show me a high probability trade. The beginning of the weeks and months are hectic. so be careful not to get caught up in the mess.
This is just speculation from my experience with EU. It's known for saying goodbye before leaving a range. I also have 2 take profit levels in case the market turns around sooner.
I want to remind you to not piggyback of my ideas and have your own bias. I will be fine if my trade works out or not. RM is key.
Comment:
I would like to see the market close above 1.1219 to reinforce my bias.
Comment:
Market closed right on our ORANGE LINE. A support level that has been respected. My bias at the moment is still more bullish. We will see what the market has to say on Sunday.
Enjoy your weekend!!
Enjoy your weekend!!
Trade closed manually:
TP 1 was almost reached. None the less, price has dropped to our SL. Taking a 10 pip loss.