This is NOT to say this is the path it will take but just the ideal scenario - the 1hr Demand and 1hr supply are the first areas that need to be noted for a possible reaction. Loads of imbalance below down in the Daily Demand zone so ideally this is the area where buying opportunities will come from should price drop down there. See how the market goes tomorrow...
The demand that fed the run up to the 1hr Supply yesterday has not held. Very clear to see the sellers were sat in that 1hr Supply. There is a higher up 15m Supply that has been created and a mid - way 15m Supply - this is where I will be watching to see how price reacts to this area. Shorts would be to the lower demand zones and longs (should the 15m supply...
With a previous Lower Low being made and the correction about to complete will the Euro drop from this Daily Supply Zone - I'm sure there will be a reaction - mark it out and lets see.
After yesterdays big push up and previous supply zone violated will we see a drop soon? The pair has pushed up in to a Supply zone which is above the 50% from the Previous Daily drop. We will wait for a structure change before we even think about going short but this is a good area to be monitoring. Happy trading and trade safe :)
There is a good chance a move down could happen on this pair but will have to see how price reacts at the area of supply I have and also if using the daily chart as a main chart... will it move up to to the 50% of the previous drop? Always react and never predict - if areas you have are violated then re draw and go again.
Daily chart still showing a bullish market from what I'm looking at. I would rather price dropped in to the lower 50% based off the Bullish Structure break and previous broken supply zone and give a rejection with the upper untouched Supply zone as a potential area for price to climb. But I cannot predict and never will, I always react to what the chart is...
Areas I'm interested in on GBPUSD, I will only look to trade when price reaches these areas.
EURJPY closed in a Supply Zone whilst breaking a weak zone on its journey up. From here there will be a reaction but where is it going? I cannot predict, no one can, but we can react. The pair is still very much bearish based off this timeframe, you can see it dropped down in to a Demand Zone which was created way back and the reaction was clear to see. Since...
Tough one to call on this due to the big move up in to the sell zone I have marked out. Few levels of confluence, including the Fib Retracement Golden Zone, possible popular Price rejection based off fixed Range Volume Profile. I will wait and see what type of structure gets created on lower timeframes and then decide where to enter should an probable...
Could this level of structure hold which also ties in with the Golden Fib Zone and some decent info based off the MACD. There is a potential for the DXY to make its way to the Daily sell zone. Lets watch and see....