EURJPY .Wait!!!! Don't Buy for long!!!
My view on EURJPY.
after awhile of studying EURJPY, I noticed most SMC traders or most traders are still having a bullish bias due to the unmitigation of a supply that has not happened and price hasn't really get close to the supply In any way.
most traders will agree we're bearish, but a lot will agree that we're on a short term bearish move so they're still looking for buying opportunity when price gets to a demand zone to buy into the overall supply, due to the mittigation of supply that hasn't happened.
but that is totally wrong,!!!!
the main purpose of price going back up or down after every break of structure is to rebalance price, which mean retracement to fill in any inefficient price action or Imbalance, and when price Is done with that it is ready to continue the trend.
mitigation might come in while price get rebalanced at discount or premium pricing, but note,
after price moves from discount to premium or from premium to discount, to rebalance price, and it has started a reversal without mitigation, any zone against the order flow becomes low probability, which means they're likely to be take. out.
This is same on EURJPY daily TF. this mainly happened with the large TF
after awhile of studying EURJPY, I noticed most SMC traders or most traders are still having a bullish bias due to the unmitigation of a supply that has not happened and price hasn't really get close to the supply In any way.
most traders will agree we're bearish, but a lot will agree that we're on a short term bearish move so they're still looking for buying opportunity when price gets to a demand zone to buy into the overall supply, due to the mittigation of supply that hasn't happened.
but that is totally wrong,!!!!
the main purpose of price going back up or down after every break of structure is to rebalance price, which mean retracement to fill in any inefficient price action or Imbalance, and when price Is done with that it is ready to continue the trend.
mitigation might come in while price get rebalanced at discount or premium pricing, but note,
after price moves from discount to premium or from premium to discount, to rebalance price, and it has started a reversal without mitigation, any zone against the order flow becomes low probability, which means they're likely to be take. out.
This is same on EURJPY daily TF. this mainly happened with the large TF
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