Some of the Reasons Why We Are Selling This Pair
This pair has witnessed a large amount of back-and-forth swings in the last couple of days. We witnessed price fluctuations that resulted in a direction switch over and over again. Right now, we are going to ignore all other timeframes and look at this market analysis from a 4-hour perspective.
On the 4-hour chart, we can see that the market is on a down PB from weeks ago. As of last week, we had marked out our zone in the PB from which we looked to see a reversal. Yesterday saw prices rally all the way up into our zone, and from there, as expected, the market began to show signs of bearish reversals.
In a bid to catch that bearishness, we were able to jump on that trade using the panzy pips trade system.
The trade is expected to dip all the way down to the 4-hour liquidity target below.
Now it is also important to look at the charts from multiple timeframes at the same time, so forget my earlier statement that we would only pay attention to the 4-hour chart. You all should know by now that that was a joke. So let's look at the 1-hour perspective.
On the 1-hour chart, the market is bullish, with 2 PBs to the top. The 4-hour bearish impulse has experienced a good amount of support around the 1-hour PB zone (the zone is not marked out on the chart, to keep the charts clean).
There is obviously a good deal of support around that level, and we believe it is because of the 1-hour zone. We would be expecting prices to breach that level and continue to dip all the way to our 4-hour liquidity level.
But where that fails and the zone holds, prices would be expected to rally all the way to the top to liquidate the 1-hour target, which is the 4-hour zone, while at the same time threatening the daily timeframe zone.
On the 4-hour chart, we can see that the market is on a down PB from weeks ago. As of last week, we had marked out our zone in the PB from which we looked to see a reversal. Yesterday saw prices rally all the way up into our zone, and from there, as expected, the market began to show signs of bearish reversals.
In a bid to catch that bearishness, we were able to jump on that trade using the panzy pips trade system.
The trade is expected to dip all the way down to the 4-hour liquidity target below.
Now it is also important to look at the charts from multiple timeframes at the same time, so forget my earlier statement that we would only pay attention to the 4-hour chart. You all should know by now that that was a joke. So let's look at the 1-hour perspective.
On the 1-hour chart, the market is bullish, with 2 PBs to the top. The 4-hour bearish impulse has experienced a good amount of support around the 1-hour PB zone (the zone is not marked out on the chart, to keep the charts clean).
There is obviously a good deal of support around that level, and we believe it is because of the 1-hour zone. We would be expecting prices to breach that level and continue to dip all the way to our 4-hour liquidity level.
But where that fails and the zone holds, prices would be expected to rally all the way to the top to liquidate the 1-hour target, which is the 4-hour zone, while at the same time threatening the daily timeframe zone.
Trade closed: target reached:
Price has moved all the way down to hit our target. But as expected, in its usual "unpredictable" nature, it has continued to deep way beyond our target. But that is all good. All that matters is that our target was hit and we can add this to our collection of successful profitable trades.
Price has moved all the way down to hit our target. But as expected, in its usual "unpredictable" nature, it has continued to deep way beyond our target. But that is all good. All that matters is that our target was hit and we can add this to our collection of successful profitable trades.
