We broke structure on a Daily timeframe to a downtrend. Currently mitigating toward the sell orders in a 4H timeframe. Price is failing to create Higher Highs. On the 1H we broke structure to the down side and are currently retracing towards our institutional candle.
Confirmations in this trade:
Fib Retracement leveles 78.6% - 88.6% (Red area)
Currently in a bullish countertrend in lower timeframe. Taking advantage of DXY correlation with the Major pairs.
Mitigated off 1 Hour inst. move to keep going lower. Expecting a retracement around the 78.6% - 88.6% fib area, liquidity area, imbalance in the market highlighted purple and following bearish countertrend structure. Taking it low to...
First lower entry: (5MINUTE TIMEFRAME) 88.6% fib retracement area. Imbalanced price action on 5M timeframe & 50% of last institutional move that took previous liquidity.
Second entry: (30MINUTE TIMEFRAME) 78.6% fib retracement area. 50% institutional area of last bearish move before the bullish move upwards. Mitigation area for smart money to close out...
EURUSD Sell to Buy. Following Higher time frame structure and catching possible retracement on counter-trend. Buying at inst. area for a Higher High. Short term sell for a Long.
Cancelling sell order if buy activates.