La_Melza

La_Melza

A little bit late with the setup but this is what I think will happen. With the pair being in uptrend, it mitigated the H1 OB to create its higher low. Sl on the next high.

La_Melza

OVERALL, ITS BULLISH but it has to retrace and I'm guessing that's where it'll occur.

La_Melza

the higher tf bias is very much bullish but as for now... Then we buy when it gets to that grey zone

La_Melza

I don't know what to tell you but I'm trusting that level. the OB carries many confirmations and if it's to approach it and create liquidity before it reaches the level the better. well just monitor the lower timeframes for breaks of structure and Wyckoff schematics. fingers crossed the new week will favor this

La_Melza

after creating a manipulation and breaking a previous ''Higher Low'' I believe EU is still very much in a bearish trend because, as we can see, there is a lot below to attract the price to the downside. That being Imbalance and Liquidity in accordance with the trend.

La_Melza

The pair definitely has to make a turn around but, at the trendline touch is what I'm not so sure of. Partly because there wasn't an immediate push after price touched the trendline meaning that its no what it wants to do yet. Liquidity sweep of the sellers is what im thinking the a HUGE downside rally

La_Melza

There's a lot it's moving down to. The overall bearish trend, the liquidity below. And the pair is not shy to move 256 pips downwards as it previously moved 245 pips a while back

La_Melza

the price basically has to go back there. i think.

La_Melza

Respecting the Breaker Block that was created when the price didn't form a lower high, the price will mitigate it before moving downward where the is imbalance, liquidity and an institutional candle waiting to be mitigated as we are on an overall bearish trend

La_Melza

it never mitigated the order block going back to it. It was a fake!

La_Melza

It has touched the minor trend line. As a retail trader who likes trading with the banks I never take such trades but a pull back is what we've been waiting for and this seems like a good place for it to start. However, may go higher as to clear liquid of both major and minor trandlines. Hence, fingers crossed.

La_Melza

im not sure if it mitigated the area that helped clear the liquidity. IF it did then we are on a long way UP.

La_Melza

unusual momentum last week but could drop anytime now or mitigate the area first then go down

La_Melza

UJ closed with a highly momentum week last week. However, it seems to be resisting a major and minor trendline which I think has to touch before going down, clearing trendline liquidity and also to the support area turned resistance.

La_Melza

Price has retraced, i no longer think it has any reason to go down further hence for now, it will go up and break that support and go further up as it is in a bullish macrostructure. After mitigating between those two areas, it will go DOWN.

La_Melza

Currently consolidating but has to break at the bottom and mitigate an order block that clears liquidity and go up and break and retest on the trendline continuing up to the support zone.

La_Melza

The trendline liquidity was cleared by the move that created the gap. However, this gap has to be filled and whilst doing so go mitigate the orderblock that clears liquidity. After that, straight to the top as we are in a bearish trend according to the weekly timeframe and a higher low has to be created.

La_Melza

If it sweeps liquidity above those equal highs we are going down.