possiblE tradE setuP
this is not a trade signal , but a possible setup. always wait for price to reach levels of interest and keep a close eye on price action and candlestick formation as well as watching out for other factors of positive confluence.
INTRADAY SETUP:
price has been in an intraday downtrend since Thursday during the opening of the NEW-YORK trading session.
price is currently trading below 4hr imbalance of proximal price @ 1.09428 , on the 15min chart short - term bullish momentum is in control as trendline is holding up price acting as dynamic support.
i see this as a possible start of a pullback to retest recently broken bearish support trendline where there is extra selling confluence of 15min supply CP @ 1.09507 , a few pips pierced through it is a 38.2% Fibonacci level @ 1.09558 where i will be monitoring price action for selling opportunities with targets at 1hr demand peak @ 1.08802 which is my level of interest for a buy position up to the daily high @ 1.10949 with 1st target @ liquidity pool ranging from @ 1.10261 to @ 1.10329.
"its never too late to be what you might have been" - George Elliot
INTRADAY SETUP:
price has been in an intraday downtrend since Thursday during the opening of the NEW-YORK trading session.
price is currently trading below 4hr imbalance of proximal price @ 1.09428 , on the 15min chart short - term bullish momentum is in control as trendline is holding up price acting as dynamic support.
i see this as a possible start of a pullback to retest recently broken bearish support trendline where there is extra selling confluence of 15min supply CP @ 1.09507 , a few pips pierced through it is a 38.2% Fibonacci level @ 1.09558 where i will be monitoring price action for selling opportunities with targets at 1hr demand peak @ 1.08802 which is my level of interest for a buy position up to the daily high @ 1.10949 with 1st target @ liquidity pool ranging from @ 1.10261 to @ 1.10329.
"its never too late to be what you might have been" - George Elliot
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