Currently on my phone so the first post didn’t show the full picture
I saw a choch on the daily which indicates that the daily pullback has started. The internal structure of the 4H has aligned bullish as well. Once I see lower time frame confirmation I’ll look for a long position targeting the 4H high
Just got a bullish choch on the 4H. Going to take long positions on the 15 min until we get to the 50% then I'm going to wait for a bearish choch and target the 4H low
Just like with EU I use the daily swing as the bias for my trades but also keeping in mind that the weekly and monthly are both bearish
Went from the monthly to the 15 min explaining my bias on each time frame. I'm going to be working with the daily TF going down but keeping in mind of the weekly and monthly bias
Update from the analysis I posted a couple weeks back. Currently looking for short trades but nothing long term. Still bullish when it come to the swing structure. NB: Weekly time frame is bearish and the bullish price action is a weekly pullback. If the weekly internal structure becomes bearish I will communicate
Here I give all possibilities on the daily time frame and go into a bit of detail on how I'm looking at current price action on the 4H and 15 min timeframe
4H internal switched bearish last week and we just broke below again giving us a clearer range to look at. 15 Min is bearish as well and I'll be looking to short in the next few days
Price did not break above last night and we are currently ranging on the 15 min. I've explained the 4 possible scenarios we could see play out
The 15 minute setup is playing out quite nicely. Going to be looking for a re entry tomorrow as well this time leaving the full position open to target the 4H high. I will start posting more trade updates like this regularly after my analysis
Very quick analysis on GU. Didn't go into a lot of detail of everything that could happen just focusing on what I'm currently seeing and that GU going long targeting the 4H high
Daily internal Structure is bullish. 4H internal structure is bearish. 15 min swing structure bearish. I believe this is going to be a 4H pullback then once the 4H internal structure is bullish we can target the 4H swing high Only going to entry after I see confirmation of price going lower
This is more a me predicting how price is going to move so if anything changes or doesn't go how I'm expecting I will update the analysis. Right now I'm expecting price to break above which will create an inducement zone. Once that's taken out and we see a bearish choch we can expect the 4H to give us a pull back before the internal switches bullish. You can...
The daily internal structure has switched back bullish. Going to look for entries on the lower timeframes like the 4H and 1H to get confirmation entries next week
We pulled back to the last unmitigated zone then we had a bearish choch. We switched bullish just to take out the Asia high and now we are bearish again. I'm going to be looking for shorts on a lower time frame such as the 3 min for confirmation targeting the weak 15 min swing low.
There are lots of things that can happen now. Best to keep expectations of where price could go to a reasonable level. IMO unexperienced traders should only target weak structure points and not liquidity points as those might not be taken, but I leave that decision to you. Waiting for more information on Monday and Tuesday for a follow up analysis but for now...
Price should give us a bullish choch soon which would also take yesterdays Asia liquidity. Once I see a bearish choch I will enter into shorts targeting the 15min weak low.
This is an example of why candle closes are important when marking out a BOS which changed direction. Like here the low just got swept and went on to make another higher high. There is no real way to know if it is a BOS or a trap so it's best just wait and see if we get a candle close or in this case break the high. You could get a reaction on the lower timeframe...