Liquidity grab, Order Block, Fibonacci Extension
I took SELLS on #USDJPY this morning. Looking to move my SL to BE once TP 1 gets hit. I'll take 20% off the position each time my alerts are hit at 1:1, 1:2, 1:3, 1:4, & 1:5 intervals if the trade pushes that far. I just have to manually monitor the trade once it gets to TP 1 or into profit enough to where I feel...
D TF - Structure is to the downside
4H TF - Market is trying to go bullish
There's a CONSOLIDATION zone on the 30m TF which is met at the 1H RESISTANCE
Analysis: NEUTRAL
Just waiting for a BREAKOUT from the CONSOLIDATION zone & a possible RETEST of the 1H RESISTANCE before making a...
Looking for SELLS
May have to wait for a retest before jumping into a position downward
Most zones were created from the 4H time frame...except for the 9 pips area...which was created from the 1H time frame
Market Structure is to the downside so it's my belief that the market will continue downward
Just have to be patient and wait for the NEWS RELEASE @ 18:50 CST
EJ has been consolidating for a few hours.
Waiting for the BREAKOUT in either direction.
R:R could be 3:1 if the breakout is BUY biased or 2:1 for SELL bias.
Blue lines are levels of Support & Resistance from the 4 Hour time frame.
If HOURLY candle closes above the zone then I will BUY & if it closes below the zone then I will SELL.
