EUR/USD CURRENT SET UP AND THOUGHTS
EUR/USD 1H - As you can see this is my current setup for this pair hence the short position I have placed on this market. I want to see price now continue trading us lower, creating new lower lows and lower highs in the market.
Price has come to trade into a 4H hidden order block which is what I have highlighted out on screen at the moment. Price yesterday was spent correcting itself, trading up and into this area of Supply.
Now price has traded in I am expecting an S&D flip to the downside, price may come to trade a little higher before the down move but I did not want to miss out on this opportunity so I have accounted for it by placing my SL where I have.
We have been delivered with multiple pieces of confluence to suggest a move to the downside, like protecting highs and breaking lows, price respecting areas of Supply and price following the prevailing trend. With all of that we have enough confluence to be placing positions to the downside.
Price has come to trade into a 4H hidden order block which is what I have highlighted out on screen at the moment. Price yesterday was spent correcting itself, trading up and into this area of Supply.
Now price has traded in I am expecting an S&D flip to the downside, price may come to trade a little higher before the down move but I did not want to miss out on this opportunity so I have accounted for it by placing my SL where I have.
We have been delivered with multiple pieces of confluence to suggest a move to the downside, like protecting highs and breaking lows, price respecting areas of Supply and price following the prevailing trend. With all of that we have enough confluence to be placing positions to the downside.
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.