My analysis for EU is similar to GU. Currently, the price is very close to a 3-hour demand zone where I will be looking for buying opportunities. Once the price enters this zone, I will wait for distribution before targeting the nearest supply zone for a potential sell.
When the price reaches that supply zone, I will consider entering sells, as there's a similar setup in GU from last week's NFP. However, my ultimate target is the extreme supply zone at the 10-hour level.
Confluences for EU Buys:
- The price has created a clean demand zone that caused a change of character (CHOCH).
- In the short-term trend, there's substantial liquidity to the upside for price to take.
- This setup aligns with the DXY (Dollar Index).
- Price has filled in an imbalance as well.
Note: I am more inclined to take these buys since the demand has caused a CHOCH on the higher time frame. Have a great trading week, and don't forget about the upcoming CPI data!
When the price reaches that supply zone, I will consider entering sells, as there's a similar setup in GU from last week's NFP. However, my ultimate target is the extreme supply zone at the 10-hour level.
Confluences for EU Buys:
- The price has created a clean demand zone that caused a change of character (CHOCH).
- In the short-term trend, there's substantial liquidity to the upside for price to take.
- This setup aligns with the DXY (Dollar Index).
- Price has filled in an imbalance as well.
Note: I am more inclined to take these buys since the demand has caused a CHOCH on the higher time frame. Have a great trading week, and don't forget about the upcoming CPI data!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.