Overall bias towards EU is still bullish , it is just time to see some corrective moves before buyers are willing to step back in for the long haul. Based off candle formations on the daily timeframe and how they have reacted to the following levels i believe we might see what could unfold as a head and shoulders pattern.
Will update as the trade set-up progresses but i will specifically be looking for a pinbar of the upper highlighted region; followed by a down move towards the lower region i highlighted. Current area seems to be a decent place for a scalp to the upside. My trades will be limit order based since eurusd 0.03% is in a tricky place & in consolidation; so i want the market to come to me rather than guess.
Will update as the trade set-up progresses but i will specifically be looking for a pinbar of the upper highlighted region; followed by a down move towards the lower region i highlighted. Current area seems to be a decent place for a scalp to the upside. My trades will be limit order based since eurusd 0.03% is in a tricky place & in consolidation; so i want the market to come to me rather than guess.
Note
*RIGHT CHART*; 4hr timeframe, more detailed view & how one should trade this setup off of. I've highlighted the areas of significance w/ the dark color, prices for "1" &"2" are placed, and area for buy limit is highlighted in pink.
There is a lot of confluence in this area: trade wisely =)
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.
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.