-Higher timeframe weekly = Price sitting low in a 2 year sideways range where buyers have taken control each time so it's reasonable to look for buying opportunities.
-Lower timeframe 4hr = Price showing evidence on 1hr and 4hr by breaking downward trend lines and removing opposing pivot point zones showing evidence of buyers taking control.
-Quality drop base...
- Price Inside Weekly Drop Base Rally Demand Zone.
- Waiting for 4hr TF buyers to take control while price
is inside the weekly demand. Keeping eye on JPY pairs.
- Trend = Down so any longs will be counter-trend.
See the Picture above more information.
-Price created a H&S Pattern.
-RBR demand was holding multiple times
and was valid to look for buys inside the RBR.
-With the formation of the H&S pattern was putting
pressure on the demand zone to break
-Price is now inside daily demand which is a good location to
look for buying opportunities.
-Trend = sideways
-When price is reacting off of supply im bearish USD pairs
and trying to short the smaller timeframes.
-When price is reacting off of demand im bullish USD pairs
and trying to buy a smaller timeframe demand zone.
Original TP was at 1.5:1 which was hit but
I manually exited the trade at 0.3:1 after
I noticed the futures market did not have
the same zone so I did not feel comfortable
holding the trade after price broke above
the distal line. Overall I'm happy with the
setup and how I managed the trade.
See Picture for analysis..
-Price showed evidence of sellers coming in by breaking upward trend line/momentum
telling me sellers took control.
-I like to see a strong moved because this tells me
there was big money selling there and not small money.
-Breaking upward trend line/momentum line
-Price removing opposing demand
-Quality rally base drop created to...
*NZD Bank RATES later.
Higher Timeframe (Weekly Analysis)
-Price reacting off of tested weekly demand.
-Trend = Sideways/short-term downtrend.
-With Price Inside Weekly demand we can look for buys but confirmation is needed.
Lower Timeframe (4hr/1hr)
-Confirmation of buyers stepping in from breaking downward ML + removing opposing zones.
-Quality DBR demand...