My EU analysis this week focuses on shorting opportunities. I will look for sells either from the 6-hour supply zone near the current price or, ideally, from the 11-hour supply zone if the price breaches the Asian high and continues upward.
If the price opens lower, I will look for buying opportunities at the 4-hour or 3-hour demand zones. Once the price reaches these demand zones, I plan to buy up toward the supply zone, as we are still in a short-term bullish trend indicated by the recent break of structure to the upside.
Confluences for EU Sells are as follows:
- 11hr supply zone has caused a break of structure to the downside and nearby 6hr supply.
- The overall trend on the higher time frame is bearish and the dollar is also overall bullish.
- Price has already mitigated 4hr supply might be a start of a bearish trend.
- Bullish pressure is getting exhausted after the bullish rallies we saw last week.
- Clean 11hr supply that has an imbalance that we could see a clean reaction from
P.S. Since the price is between liquidity zones, I will approach these nearby areas with caution and may lower my risk until the price reaches more favourable extreme zones where trades will be more worthwhile.
Have a great trading week!
If the price opens lower, I will look for buying opportunities at the 4-hour or 3-hour demand zones. Once the price reaches these demand zones, I plan to buy up toward the supply zone, as we are still in a short-term bullish trend indicated by the recent break of structure to the upside.
Confluences for EU Sells are as follows:
- 11hr supply zone has caused a break of structure to the downside and nearby 6hr supply.
- The overall trend on the higher time frame is bearish and the dollar is also overall bullish.
- Price has already mitigated 4hr supply might be a start of a bearish trend.
- Bullish pressure is getting exhausted after the bullish rallies we saw last week.
- Clean 11hr supply that has an imbalance that we could see a clean reaction from
P.S. Since the price is between liquidity zones, I will approach these nearby areas with caution and may lower my risk until the price reaches more favourable extreme zones where trades will be more worthwhile.
Have a great trading week!