im watching eurjpy to get long from this untested lvl with fib confluence target will be into the 1D double top area to take any stops above the high
on this pair you can see we are sitting on a lvl of structure @ 0.86725 however we are not making any progression away form it, this to me creates a liquidity pool below market because the more time price rejects the more people are inclined to buy this lvl as its deemed "strong" , this end up with lots of stops below a "strong" lvl. now as we know the market is...
on this pair you can see we broke up and out of a weekly lvl @0.91018 ( red dashed line) and we did not see a pull back into test it, the next thing i notice on this daily time frame is if i take a fib from low to high we have 0.618 fib confluence in this zone, we also have atr for today in this area , i want to see price get down there as well as price action and...
shooting usdchf confluence 1. structure break and retest 2. 0.618 fib tested 3. lower time frame price action 4. 50 ema rejection
I am currently watching eurjpy for longs around 129.812 you can see we have broke up and out of a lvl of structure and had acceptance above and are currently coming back for a retest , we have 0.618 fib confluence on this lvl as added confluence I will need to see clear price action on this lvl to take a position however its an area to watch
this was a trade on usdchf we entered off the back of an inside day pattern, many retail traders will short or go long on the break of the high or low of an inside day however we know from back testing that the probability of an inside day failing is very high so we like to try go against the grain with these and make anyone that is selling get stopped out, this...