The market is in a downtrend. in case of sweeping liquidity and the closing above it, could set up a situation for a potential upward move to mitigate the1H : Ext OB. However, it's important to note that this approach is risky due to its countertrend nature After reaching the '1H : Ext OB' , confirmed signals on both the 1-hour (1H) and 5-minute (5m) timeframes...
KEEPING IT SIMPLE - still going by the htf ob, so bearish overflow till we still that htf pd array broken - price respected the bearish ob and can see price drop down to out poi which would be the bullish ob tap in after price has raid the sellside liq
Hi, I can see at least two Liquidity Pools on Medium/Higher Time Frame for EURUSD, and price is likely to seek these. The question is if it will go first below or first up. Instinctively, I usually want to trade upwards or the reversal, but since price short term is already downwards, and thus closer to the lower Liquidity Pool, then perhaps that is the wiser...
As you can see, we have had numerous rejections of the 27 SMA (Daily), and with the high volume in recent days, it is likely that it can break the resistance. On top of that, the RSI daily is also forming a reversed head and shoulder pattern. These two indicators with the high volume point to a big explodion. According to the Fibonacci Retracement ratio, it is...