- Price retracing for deep pullback to grab some internal liquidity structure with a Bull bias for short term BUY
- Market manipulation
Price left with imbalance in price disagreement with buyers this brings back the setup for the Bears to take charge of the market again
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The market also broke the R3, R2, or R1 and the Market is going is still in Downtrend and also retest the S1. I think the Market will not the breakout the S1. Because S1 is too Strong and if the market is breakout S1 then the market will move to still on Downtrend. If the market is not Success in Breakout the S1 so the Market Change the Trend .
The market will move in past 50% uptrend and 50% downtrend. After consolidation area market will move to a downtrend. And suddenly
Divergence comes into the market and change the trend from Downtrend to Uptrend. Now currently market will take 2 HH and I think 1 or 2 LL. After that in the future market will move to a Downtrend.
EURAUD just hit it's trendline support,
MEANING a bounce back is EXPECTED
Up to TP1 1.61200 - TP2 1.61900 - TP3 1.62600
WITH A STOP LOSS OF 1.59950
Let's wait and watch as it moves
Note past results don't give assurance to other trades
There are possible chances for a strong support while waiting for and another resistance on the other side, Price will be going up to a level of 3500 before another test can take place..
DECLEARANCE: Before the retest we should be observing another opening position.
IMPORTANCE NOTE: After the test there shall be will be a bullish scenario.
Entry Point is...