EURUSD BACK ON THE RISE 1.0000?
Updated
The EUR has seemed to fail at making another Lower Low after pushing down hard off of a Daily Supply zone, also the EUR has been having good momentum and bullish pressure from the lower TF H4 Counter zone which seems to reverse price if it holds. The DXY is now looking bearish with the H4 50Ma now above the price it leads me to believe the dollar is losing its momentum and in turn, will make EURUSD rise.
Entry Criteria/Confluences
1. D failed at making Lower Low off of strong bearish Supply momentum
2. Price has broken the H4 structure to the Upside twice now
(1st time was the zone it respected, highlighted blue)
(2nd time just happened with ALOT of momentum and the entry is at retest)
3. DXY is falling and turning bearish
4. Entry is right at Psych Mid Level 0.97500 (SL 50 pips)( TP 250 pips)
Trade Management
1. At 0.99000 I will move SL to BE and take 50% of profits, hopefully, the price can fly up to 1.20000 for 450 pips
2. If my limit hits to protect my psych I will reassure myself of all my confluences and be ready to let the trade play out.
3. I will set the Scale in positions only at H4 BOS/POI for the highest probability
Entry Criteria/Confluences
1. D failed at making Lower Low off of strong bearish Supply momentum
2. Price has broken the H4 structure to the Upside twice now
(1st time was the zone it respected, highlighted blue)
(2nd time just happened with ALOT of momentum and the entry is at retest)
3. DXY is falling and turning bearish
4. Entry is right at Psych Mid Level 0.97500 (SL 50 pips)( TP 250 pips)
Trade Management
1. At 0.99000 I will move SL to BE and take 50% of profits, hopefully, the price can fly up to 1.20000 for 450 pips
2. If my limit hits to protect my psych I will reassure myself of all my confluences and be ready to let the trade play out.
3. I will set the Scale in positions only at H4 BOS/POI for the highest probability
Note
Extra Confirmations1. Entry is just below the 50% line on the Gan box for BOTH H4 & H1
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