After the chaos that was the markets with President Trumps announcements yesterday there is a few imbalances that need filling.
Whether they will fill quickly is anyones guess but I'm working on the theory shown in the image above.
If we get the break of structure marked as BOS 5M then I would suspect a retracement to a level close to where my long is marked on the chart. I'll mark this out more clearly once we have the initial break of structure.
My target ideally would be the Supply zone marked as Supply 15M, (1.43072) but as I've been hitting a lot of losses recently I'd be tempted to take profit at the marked 2.5R or at least to take a partial.
Then longer term I expect that the action will go as high as this supply zone ready for a short as per the HTF trend.
Targeting again the initial zone at 1.42240
Whether they will fill quickly is anyones guess but I'm working on the theory shown in the image above.
If we get the break of structure marked as BOS 5M then I would suspect a retracement to a level close to where my long is marked on the chart. I'll mark this out more clearly once we have the initial break of structure.
My target ideally would be the Supply zone marked as Supply 15M, (1.43072) but as I've been hitting a lot of losses recently I'd be tempted to take profit at the marked 2.5R or at least to take a partial.
Then longer term I expect that the action will go as high as this supply zone ready for a short as per the HTF trend.
Targeting again the initial zone at 1.42240
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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.