Looking like we are in the middle of a pullback. Could have bullish momentum to re-test structure on HTF
Potential price action Looks like we price did a fakeout for liquidity above 134.600 Will be looking for lower high resistance to form to take sells
3 potential trade ideas based on current market structure
Price pushing up and making higher lows on 4H. Looking like buyers taking control of the market for now. Will buy support above 134.600 or buy support above 134.220 if price pulls back to that level
Looking for sells if price create resistance and lower highs below 134.220
Price at critical level right now. Will it hold support or break it again for a bearish continuation
Price currently holding support A bullish pullback is likely. These are key levels and potential price action I'll be expecting
Looks like price found support and started pulling back. The price action in this range is very ugly. I prefer to wait for price to break out one way or the other. It can breakout bullish for a bigger pullback on the HTF... or it can break the lows to continue the trend. Wait and see.
After a strong bearish push, price seems to have created support. Wait for a pullback to form a lower high, or a break below support for continuation.
Bearish bias for the week based on: 1. Friday's candle broke and closed below support with strong candle 2. Overall bearish trend on HTF 3. New UK COVID lockdowns will hurt GBP
Potential Price action for NY Strong break of major support Looking for resistance to form to take sells
Strong rejection from daily support zone Price closed back above major support, potential fakeout to go bullish High chance that price will go bullish and re-test the top of the range
Bias is bullish after price closed back above major support Look price to break intraday resistance for potential buys
Wait for volume to come in. Interest rate decision at 7:00 AM EST can provide that breakout. I will be waiting for price to breakout with an impulse, and take the higher low support or lower high resistance for continuation.
Careful trading this in this range. There is no clear direction on the 4H. The only sensible trading idea I can see is to sell a lower high below 135.96
Price is in a nasty range on the 4H. Price can go either way. Best thing to do here is wait for breakout or rejection from one of the major zones.
Intraday levels and price action analysis Look for buys when higher low support forms