We anticipate for price to reach the Bearish Order Block at 0.88787, once in that area... 1H or 30Min should present an entry short for an OTE entry. Targeting the Sell-Stops shown by the eyes below... This in a long term outlook and shouldn't be taken as an intra-day trade idea.
EURAUD has given a retracement on 4H after a strong market structure break to the up-side. Aggressively, suitable entry is at CMP. however, do note a potential draw own to the 4H bullish order lock below price. Conservatively, Enter a Buy on the OB of 1.6340 , SL at 1.6299 or 5Pips below SAID LEVEL.
MARKET STRUCTURE BREAK remains valid, as price broke the 121.988 mid-term resistance area. An anticipated retracement to such as area should not be ruled out, before price head higher. An OTE or order block on STF is evitable.
We anticipate the spike to the 4H order block, in an attempt by the MM, to stop hunt, then push price further lower.
WE HAVE NOTICED THE MSB BREAK AFTER THE 1H OB WAS TESTED AND RESPECTED. (A MISSED PERFECT ENTRY IN MY BOOK) NOW WE WAIT FOR A RETRACEMENT IN PRICE TO THE 62% OR 71% ON YOUR FIB TOOL, ELSE..THE RETEST OF THE OB WILL STILL PROVIDE A POTENTIAL SETUPS. ALLOW PRICE TO PEN-OUT AS IT SHOULD. NO CHASE, NO GIMMICK. #TraderzMart @SirMattDona