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Actually two trades within one, price is at buy orders 115.66 with a bottom at 115.06, if they hold then I would expect price to head back into the sell orders for a short at 118.18 I want price to stay below 118.61. If there are enough sell orders in place this pack of buy orders will mean little and price will ...
Price is still falling on the pound and certainly by the 4hr tf not in a buy position, however it is coming to the first of the swing highs at 1.2113, the second one at 1.2082. I would like to see the first hold at 1.2113 then look for increasing swing highs and lows on the smaller time frames
DXY has made a new low and has not broken the swing high. As long as the swing high in blue holds then I would expect a lower swing low. Sunday opening can change the landscape drastically. This is a working hypothesis of where the chart is now.
Either Euro rejected making a new swing high or we are playing an inset of higher swing highs and lows within the bigger picture. Well the swing low in blue holds I would expect price to move up and make a higher swing high. Sunday opening can change the landscape in an instant but for now the swing low is in play ...
Lower swing highs and lows on the Euro normally would anticipate a lower low - however the US Dollar is retracing higher after a lower low so I anticipate demand will hold on euro at 1.0454. Buy orders in yellow buoying price.
Aussie coming to swing low I expect that there is sell orders at this level but not much in the consolidations that are found in the down leg. Looking for a retrace here and a better entry to long from
Even with the new lower swing high inplace price needs to start breaking demand which it may not do first time around. Supply formed with sell orders above looking to hold price down. Need the last swing high to remain uncrossed with price looking to form new swing low. Targets below
This setup has not proved itself yet all there is to suggest price is willing to move up is a higher low on the bigger swing low. The smaller inset swings are falling, price will need to make a new swing and low in the smaller swings to start moving up - as always the swing low has to hold or price will move ...
Smaller swing high lows are playing out within a larger play - I would like price to retrace into the prev swing high low smaller area and hold at demand - one to show the demands are now holding two to make a higher low on the smaller swings and three give a better entry price. Alternatively we may see price make ...
Pound has made a new swing high and low. Looking to see if price will hold where the buy orders came in at top of yellow box if not where price has reacted before at demand in green. Looking to challenge swing high at 1.2387. Swing low below needs to hold
Euro has built a demand zone interchangable with buy orders, supporting price. Looking to see if zone holds as well as swing low - looking to 1.0603 where we saw the engulfer bar take out the buy orders
Swing highs and lows have been falling with price now in consolidation. When we have a falling swing high / low we only want to short from supply. Price presently consolidating; if the swing high remains intact then I would expect the swing low to break and price to go lower.