Correction Imminent for Liquidity? 🏔️ Eur/Usd
Updated
Looking for a Correction because price is going straight up. The New 4Hr Candle may be the catalyst for an Asian Session Pullback before the 2nd London Session of the week kicks off. As we approach London Session we will see more volume arrive and anticipating potential corrective structure. The RR is worth a short although you should never walk in front of a train unless you have confluences and a good RR Idea. Anticipating corrective structure during this session and London Session. For Buyers maybe a retest of Broken Weekly Level 1.1058 for more aggressive buys. For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week. 1.1075 Weekly wick Fill from 2nd Week April is likely considering we just had a strong Daily candle close (at) 1.1045 Daily level. We closed below our Weekly Level at 1.1058. So no most optimal buy scenario for continuation here but we'll see.
More Analysis: Taking Buys today throughout NY Session was straight forward as we had the NY 4Hr candle close above 1.102. This gave me confidence to take buys throughout the session. Although we had a tough time at first, we kept trading and my system ended the first trading day of the week on a positive note ( No pun intended ). Sometimes my entries are a bit sloppy as I can be quite impatient. This is why I am a Scalper however as it is more suiting towards my persnaility anbd trading style. However, Risk Management is especially significant with a scalping strategy as although wins come faster same do cost's of business.
More Analysis: Taking Buys today throughout NY Session was straight forward as we had the NY 4Hr candle close above 1.102. This gave me confidence to take buys throughout the session. Although we had a tough time at first, we kept trading and my system ended the first trading day of the week on a positive note ( No pun intended ). Sometimes my entries are a bit sloppy as I can be quite impatient. This is why I am a Scalper however as it is more suiting towards my persnaility anbd trading style. However, Risk Management is especially significant with a scalping strategy as although wins come faster same do cost's of business.
Note
Price has Pulled back as anticipated and we have called the "Top" . It's not about calling the Top or Bottom
but simply about using experience to observe the most attractive areas on the chart that provide the best Risk/Reward for our Trading Ideas.
Note
So with that said, we closed (at) our Daily Level 1.1045 and below our weekly level 1.1058. No reason to not look for an intraday-swing as we respect our Higher Timeframe (weekly/Daily) levels. Now we have pulled back harder than I anticipated and will be looking for more short term downside. But first, must observe how price reacts with prev 4Hr level 1.102. How candles close in comparison to this level will determine our directional bias.
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