It seems very likely that the market will continue to move down,after having broken through multiple structures within a major demand zone.
I entered shortly after a 5m-time frame retest of the very bottom of the demand zone.
Will update you about this trade's progress.
I just took a short trade on EURGBP which I hope will close during the London and/or New York sessions.
Why did I take the trade?
Price is moving within a parallel channel on the 1h chart and is most likely on its way down after having touched the top resistance zone
A major bullish manipulation was followed by a smaller bullish manipulation (a.k.a....
I just entered this long trade on EURUSD. Here are my thoughts on this trade entry:
Price has been in a very strong bullish trend, making new HHs and HLs.
A few days ago, a bullish market manipulation took place, creating a demand zone that price may possibly retrace to.
In the past 24 hours, a (smaller) bearish market manipulation took place and created a...
Price breached a clear diagonal support area on the 1h EURGBP chart.
Here are the entry qualifications that convinced me to take a short position:
1.) Price seemed to have retraced to and confirmed the former support area as a resistance area
2.) A bearish engulfing candle had formed within the new resistance area
3.) Price breached the 8 EMA with a strong...
