At new york open i will set my eyes on any bullish oppitunities, if not my week will be 1 loss and 1 BE. We created the weekly low on monday and the weekly high on tuesday, apart from that the markets have been pretty slow.
I think too many tik tokers and tweeters are bullish on this pair, getting the retail lot in late and perhaps seeing 60k break i will expect to see a crash. Definitley taking out the swing lows before going up.
It might be time to take out swing traders stop loses. We have had a major break on the weekly, also breaking a low on the daily. I think this break of the low was a liquidity raid and we going to see some up movement up towards the short term swing high.
Price has created some EQL/H with a tight asian range. I will be setting my orders for new york open and be waiting price to tag me on the malnipulation and lets see if we retrace for the last two days of the week.
The sooner you learn this the better. I started seeing price perfectly mitigate areas and i started to ask my self, these moves are not random, and engineered. So when you see high impact news decide a scenario that fits and let the news be the cataylst. This does take practise and training your eyes. Just have a look at my EU chart, trade based off news, no data...
News at 3pm london time high impact. A big structure break to the upside leaving accumulation. Price needs to head back into discount on the weekly. A buy scenario seems to fit the puzzle, but this trade is one of the next 100. A short term low will be taken out before where my entry will be sitting and waiting.
What i am seeing is a daily supply with a swing high. We also have a double top on the 4H and we may see it get taken. So far its respecting the supply zone, i wont be selling till a shift in structure has happened. So for me its buys
I see it is consolidating at this moment, i think what might happen is london will provide the pull back down into the 1H OB, then a rally in new york. All the same i want to see bullish price action so i can take the longs to liquidate the trendline.