Market is in bull trend, forming series of HH and HL. market is taking corrective move and it can bee seen that, after strong bearish move, inside bar is formed followed by inverted hammer which implies that selling pressure has been absorbed. now we are taking long position.
series of LH and LL , SL above recent LH and assume it would continue riding trend ( Bullish)
Series of HH and HL - DT - shows Bullish trend continue
Making HH and HL, in bull trend. it should go high
Based on DOW THEROY EURUSD pair is in bearish trend on 1H time Frame. its making series of LH and LL. SL is put on LH and it is assumed that it would follow the trend in bearish direction.
1-Structure Bullish on 1D TF 2- Market making HH on 4H TF 3- Market broke the Prv. HH with good momentum, currently retesting 4- As per Fibonnaci Ret- it could retest support of 50% - 61.8% 5- Taking Entry b/w 50 -61.8 pc with R:R 1:2 6- Hidden Divergence found on 1H TF (Entry could also be when RSI touches level of 50) 7- SL below the level of 61.8
Buy entry as per analysis on 1D time Frame. Simple Price Action
Market Structure - Bullish on 1D time Frame on 4h Market has broken the HH with good momentum when the market break the good level with Strong level we will wait for the retest and enter for buy entry
Sell Structure on 1D time Frame: 4h - Looking for Short Entry on retest of Fib ret. level of 50-60 pc. Trend line touches 2 swings confirms bearish trend. Strong rejection depicts retracement shall take place. market Shall hit TP of R:R 1:4 on next Support Shown with Arrow from FIB ret.