EURUSD prime setup
Updated
Weekly timeframe (tradingview.com/x/jtPnPru0/)
- First time trying to switch from a bullish to a bearish market structure
- Bullish candle (retracement)
- Bullish supply and demand zone: bears could have kicked in yet the bulls managed to close back above this zone (false break trading back above)
Daily timeframe (tradingview.com/x/PRb8Numh/)
- Bullish M
- Inverse head and shoulders
- At least weekly relief so daily market structure irrelevant
4H timeframe (tradingview.com/x/TJgwb9FV/)
- Inverse head and shoulders without break of structure (SL below head)
- When dissecting the pattern on the 1H/2H timeframe there is no immediate reaction on the high making it valid to execute
- First time trying to switch from a bullish to a bearish market structure
- Bullish candle (retracement)
- Bullish supply and demand zone: bears could have kicked in yet the bulls managed to close back above this zone (false break trading back above)
Daily timeframe (tradingview.com/x/PRb8Numh/)
- Bullish M
- Inverse head and shoulders
- At least weekly relief so daily market structure irrelevant
4H timeframe (tradingview.com/x/TJgwb9FV/)
- Inverse head and shoulders without break of structure (SL below head)
- When dissecting the pattern on the 1H/2H timeframe there is no immediate reaction on the high making it valid to execute
Trade closed manually
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