I waited too long for some form of confirmation. I am expecting price to drop some after the change of character off the higher time frame supply zone. The point of interest i.e. lower time frame supply zone can be found on the 1 minute chart.
If price returns to my point of interest, I'm waiting to see if it will hold and allow for a significant drop.
I'm predicting that price will continue to drop in light of this lower time frame downtrend. I tried to post this sooner but it happened quite quickly.
If price returns and give me the confirmation I want to see, I expect it to drop for a gain.
If price mitigates the 2 minute Demand Zone within the 15 minute manipulation wick, I expect price to rally. If it gets past the Supply Zone, it will rally more to take out the resistance i.e. liquidity and maybe break new highs.
Sorry for the late publish. I was busy watching other pairs and it happened rather fast, being on the 15 second chart where I entered off confirmation. But I have reason to believe price is reversing towards the upside. So, this is more of a countertrend trade for a small 1:5 RR. Also, what held me up, was the acknowledgement of the countertrend. So, I waited for...
Update of the previous idea: With a slightly wider stop, one would've avoided the spring of the accumulation that occurred in the demand zone on the . Yet, it rallied pretty nicely from there. Now, price seems to be coming back to the accumulation. I expect it to rally from the accumulation.
If you missed getting in on the first EURUSD entry that I posted yesterday, then this is a good demand zone to get in on as well within a manipulation wick. I expect price to hold and rally from there. But it is in the middle so a small position size incase.
If price mitigates my M2 demand zone, I expect price to rally in its original direction towards the 4h manipulation wick i.e. Supply Zone for a 1:10 RR.
I like this demand zone area on the 1-hour chart. It is sitting on an already tested 4-hour demand zone (faded green area). The only thing it has against it is that it is counter trending against the downtrend of the Daily bias. But the consistent HHs and HLs tell me that price is going to rally for a while, probably to mitigate inefficiency and/or the...
Price is looking to clear the liquidity above and to trigger the supply zone and come back down to clear the rest of the liquidity lying below (arrow with $s) just above imbalance that needs to be filled. If it doesn't hold then it is because the price wants to mitigate a past order block show at the level with the yellow line. The pink shaded area is a higher...
It isn't too late to get in on this. I see another possible sell entry at bottom of this distribution range, which will be greater confirmation. I just don't see price giving up all of that liquidity (green arrow with $ sign). If the institutions behave like, well, institutions, they will drop to take all that money and can quite possible give a 1:9.
I'm interested in a lower time frame supply zone within a higher time frame supply zone that is also an Upthrust After Distribution. The previous supply zone might prevent price from reaching my zone of interest but that is okay. My target is the support line when imbalance had occurred on the Daily, giving me a possible 1:11 RR.
I'm making an educated guess that price will rally from this demand zone for a possible 7:1 RR. The Daily still seems to be in an upward bias. We shall see.
I'm looking to go short from the red supply zone for about 5:1, maybe more. Now, there is a demand zone there at around the first target (T1). where I will have to pay close attention to get out if price shows signs of reversing, depending mainly on how price enters the supply zone. Also, it is going against the Daily trend, favoring the demand level at T1.
I am looking at a SUPPLY zone on the 5-minute chart. The supply zone is greyed because there is a lot of trading happening to the left of it.
This supply zone (grey level) looks like a high probability trade. It is within a higher time frame supply zone (shaded pink area), which is most likely on the Daily. It is also has a lot of trading activity to the left in the grey area. This is why I marked the zone as grey. But it is worth the risk with half the usual position.
My previous idea featured a really good supply zone that clearly met all of my requirements but wasn't enough against a rally that came out of a daily demand zone. So, I immediately switched gears and found the next best demand zone on the 5 minute.