Price shows power and trend to go higher after few days dropping. Possible retracement under FIBO 618 level and again go long. Because there is a 'gap' I try to wait until price fill it and then trade.
Big rally of price which we can watch on Weekly chart, correction and now price made HH on H4 chart gives possibility to go again long direction at least to 1023. I will observe if price will returne from 61.8 FIBO retracement or lower.
Price finally broke D1 up trend line with very good move down, creating supply zone. I see there is a chance to trade short from that zone for lower position, and better will be wait on confirmation on H4 chart.
MN --> bearish consolidation.
W1 --> bearish consolidation. Price in Supply zone.
D1 --> new Supply zone created neasted in W1 SZ.
With consolidation and new fresh D1 SZ neasted in W1 SZ it is potential short to opposite D1 Demand zone.
Waitng with pending sell order for poullback.
W1 --> down trend with price in descending trendline range.
D1 --> ascending trendline broken, price created D1 SZ.
H4 --> possible ascending trendline to break if it will happend there will be H4 SZ nested in D1 SZ.
To placed sell order I want better imbalances on H4 chart and then pullback of price or ...
Big trend on ERU/JPY pair is down, but after broke Daily descending TL and remove opposing Daily Supply zone medium trend on D1 chart is up with possible back to W1 Supply zone.
My opinion: because D1 trend is up we can trade 'long' from H4 valid Demand zone and here one of them is available.
Price pull back from D1 Supply zone neasted in W1 Supply zone and break ascending trendline on D1 chart. Today price break yesterday low so it is possible that create Potential Supply zone.
Firest target to opposing D1 Demand zone secound target at least 1.10
Price made big move on D1 chart, which remove more that 2 last valleys, so I wait on correction and then waiting on signal to sell on H1 chart. Showed on my chart TP is for me full potential move of price and I will not looking more, maybe will quit earlier, but for sure not than R/R 1:1