- Don't be afraid to follow me, and hit the like button - Looking at this mornings strength index and the weakness of the AUD. I would be looking to place a long trade in this market. European session should break this consolidation
Waiting for the retail to finish to join in buy.
As I see the DXY covering a gap to buy, this pair I am guessing is going to go to sell. DXY Analysis:
Price has come to a sensitive zone right now where we may see sellers step in and take control of the market. The market has been moving in an ascending channel on the lower time frame which may result in buyers stepping in as they believe the market is now in an uptrend. however, basing my Bias on the Higher time frame i Believe the market was just correcting to...
We can see that at the last zone of resistance price started showing bearish tendencies which attracted a lot of retail traders to step into the market with an attempt to push price down. Then a large Institutional candle was formed which trapped sellers into the market and took price above the level of resistance to grab the liquidity (STOP LOSSES) there and then...
We can see that price is currently moving in a horizontal channel which then therefore tells us that we are currently in contraption phase which is the first phase of the market which is ranging. We do not want to be trading in the contraption phase so it is best that we sit on our hands till we see price clearly break one of the two zones we have outlined and...
We have reached the oversold RSI zone, we got in a zone that the price had to correct, now we may have an upt trend. Made a huge spring, also coinciding with a high-demand zone that the price is. If you think to copy this, I am not responsible for earnings or losses.
I am planning to sell due to we are in a major low trend, following the 2 base patterns of price action ineficiency and an overbought RSI with sold out candles at the end confirming me we are going to sell. If anyone is trying to make profits with this, and goes to SL, do not blame me because this is for educational purposes.
We have 3 very clear unbalances down here, each one after being in a higher temporality
The price seems to be going up but we have some selling candles very strong that show that we could may go for those imbalances and base patern. We are waiting for the price to arrive to those points so we can buy a sniper operation until an institutional candle which didn't get correctet.
Seeing the gaps and ineficiencies from the DXY and this pair, I see clear that the price is going to reach those areas at a minimum of the 50% of the unbalanced candles.
The DXY has a GAP and here we see that in that area there is price ineficiency.
Waiting for oversold RSI levels, psychologic points to buy at the pullback. Target zone imbalance of the price.
Looking at the offer/demand zones I see that the main trend is downwards + there is an imbalance where the price did not make a correction. Waiting for the price to hit the demand/offer zones and then selling to the uncorrected zone.
Entry : 110.395 SL : 110.675 Safety Target : 110.140 Take Profit 2 : 109.885 We do not provide any signal. We only share ideas with the analysis we have done before. Enjoy!