After a bear run in the months of June and July, Price seems to have accumulated and broken out of it's daily bearish structure.
Highlighted in pink are LL and LH's
as we can see we broke out of the Last HL on the 29th of July
I believe that hedge funds have to make one more push to get out of their last sell orders that were placed on the 29th
I am expecting...
Taken on 5 Minute TF
Wanted price to come down to at least the 50% of the Sell/buy but I also didn't wanna miss the opportunity
.4% risk targeting a new Daily HH
Could be a short into my 50% that i want at 1.18830 on the 1M TF
Continuing a mitigation train on this pair, we have created equal lows and highs on the 15M
Liquidity Grab at .72800
I am expecting price to come up to at most the 50% of the imbalance, and make a new LL
That would grab the equal highs we have created today and the equal lows
Break and retest of major weekly trend line
Rejection off of Daily 50 EMA
Daily Doji Candle
Rejection off of the 38.2% Fib Retracement from the retest
Hourly:
Break and retest of 50 EMA
Break and retest of 1.31600
After a recent drop in UJ we see a slight pullback to the 38.2 Fib. Now this along with 2 Rejections, one off of the 61.8%, and one off the 21 Moving average. This also paired the with US Dollar index dropping put my bias towards a short sell. Having my SL placed just above the 61.8% fib and riding this thing down to monthly resistance and -27% Fib of 110.00. As...
TP1 touched... Secured the rest of my profits and got out. Huge Rejection hammer on the hourly indicating this is ready to turn to the upside. Secure profits look for the next move. Cheers!!
After a recent drop off almost to the .7050 monthly resistance we have seen a minor pullback to the .7144 (38.2 Fib Ret.). I anticipate a another drop to the monthly resistance in the near future. Drawing a 4H Fib on the drop today, we can see a minor pullback to the 38.2 triggering my short signal. Keep it real keep it tight secure profits!!!
