Euro / U.S. Dollar
Long
Updated

EURUSD Idea for 24/08/2023

433
We did get the internal leg down that I mentioned which needed a revised mapping but besides that, not much has changed from the last forecast. I've marked some lighter green zones as areas that may be used as to bounce price as the liquidity is engineered.

Yesterday I mentioned that if we close above the H4 IFC candle then we could be in for some bullish behaviour (tradingview.com/x/3g3Yfhxt). Well that high became an inducement (tradingview.com/x/vdpzZ0V6/) when we took the high and closed below it and in addition, we have engineered liquidity under that level in the form of equal highs, priming it up for a sweep. This is on the H4 level so really, we could expect a day akin to Tuesday with some bullish price action during London and then NY sends us down.

We have data coming at 12:30 UTC which may give us some volatility.

I'll be around tomorrow and I'll drop updates as and when.
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Good morning traders, I hope you slept well. Today I will be looking for a path that price will take to absorb orders before taking the low. I am still looking at the H4 sweeps for the big move but some nice little intraday ping pong trades would be great cash grabs. The zones marked SMT are where I'll be looking for reactions. snapshot
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Incidentally, zone 2 has ben swept at this point and given a small reaction. The liquidity was taken from the Asian high at the same time. It's not even worth reaching for the weapon at that
Trade active
Will need a SCOB - snapshot
Trade active
Potential short term buy. I will be taking the risk on this snapshot
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Zooming out, this is what I expect. I am not expecting the low to be taken yet, just moves that induce traders snapshot
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Not eliminating a potential sweep of the Asian high
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I'm unlikely to get triggered on the small buy order. I waited too long for confirmations but no trade is better than a loss IMO. I think we will see lots of opportunity today
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It might be sniffing us out here. I am going to put a half risk, risk entry on the sell zone and look for a refined zone to put another half risk on with confirmations snapshot
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Just to reiterate, the Asian high is still a negative factor on the sell
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snapshot
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More confluence for my little buy order snapshot
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SL hit. No bueno snapshot
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I'm done for the morning, see you in NY folks <3
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There was nothing below my entry as far as refined zones go so it did just engineer SLs to make this push up. I am not taking this buy snapshot

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