Good Day!
High-level summary of trade:
i) 'Support' sitting at structure with 78.6% fib, induced Retail Traders to buy too early
ii) Break and re-test of support encouraged a Retail selling frenzy
iii) Both types of Retail traders above, would have likely been stopped out
iv) Our first trades were stopped at BE
v) Re-entry based on Wyckoff schematic, with...
Based off the previous price action and my awareness of the sporadic institutional moves i was able to strategize a trading plan for what possibly could show up in the future.Even if price dosent respond how i expect it to i still know that the areas i have marked up are important levels of structure that i could potentially take a trade off of, like and comment...
If we see a break of the current psychological level then according to the laws of supply and demand, there is a cause for price to push above the current highs,remove the liquidity and take out the imbalance of buyers and sellers in the market.Like and comment if you agree with my post!
Finally from my bias of DXY getting strong which will also make USD strong and i found a good setup for a sell on EURUSD so USD being the quote of this pair i expect EURUSD should drop
On my last post i mentioned DXY should drop to that trend and during that drop USD should be weak which actually played out i took advantage of it caught a buy on EURUSD and a sell on USDCAD so now i expect DXY to gain strength so USD should become strong now And i also have a setup for EURUSD sell which is a good correlation EURUSD setup in my next post
Supppp snipers, hope everyone had a greed day today. So i got another play for yall. Check it out, GBP has been rising fairly consistently today, at least for the latter half of the day. So with this in mind, we can safely assume long positions until we see some form of major rejection.
As i have marked in the ellipse, the three candles basically confirm the...
So here we have equal highs that are viable for stop raids
and will continue the narrative of a LONG USDCAD scenario
to be continued to play out. After the equal highs are taken
we look forward to a decent to the downside giving way
for other currencies against the Dollar to recover.
So what i'm looking for in the DXY Narrative
is some decrease in supply and more demand
in other words institutions have met their supply levels
and look further to sell DXY as Demand increases for
discounts on the Dollar. This will affect every Dollar based
pair so look for the disparities in price!
Looks to me as if the institutions are taking
price to the upside, In lue of the Long story,
What seems to have played out is the sell off
right before the up move. Giving us the buy
entry Between the 1.29 and 1.30 levels. Since
there has been tell tale signs of institutional
sponsorship, we are looking for more upside potential to USDCAD
