EURUSD: Buy To Sell Set Up
As predicted, on the weekly timeframe, we took out the ERL on 1.12017 amd now the market will move to hunt for internal range liquidity.
This means
==> FVGs
==> OBs
We have a volume gap that hasnt been mitigated and that could act as a price magnet.
Going into next week, i expect to see slight pullback into the mean threshold before moving towards the imbalance as illustrated by the tool path.
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Daily Swing Structure = Bearish
Daily Internal Structure = Bullish
Daily Fractal Structure = Bearish
We follow the immediate structure.
The internal structure is our immediate structure.
The Fractal structure has switched bearish to facilitate the internal pullback.
We know that price moves in phases;
1. Phase 1 = Break away from the range breaking structure.
2. Phase 2 = Retest and mitigation of the previous structure.
3. Phase 3 = Continuation of the dominant trend.
The dominant trend is bullish.
What phase is price in?
At the moment, price is in phase 2 appoaching the daily demand orderblock.
We understand the objective of price, which is to hunt for liquidity. So, it is likely that we tap into the demand OB, and pullback to retest the fractal supply range.
Additionally, we've liquidated the lows, so the next DoL would be the Vol Imbalance inside our fractal supply range.
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4hrs swing structure = Bearish
4hrs Internal Structure = Bearish
4hrs Fractal Structure = Bearish
We follow the immediate structure.
Our immediate structure is the internal structure.
What phase is price in?
=> Price is in phase 1. We broke structure to the downside. We havent gotten ChoCh to confirm phase 2.
Where is price at?
We just tapped into a 4H demand range and orderblock. From here we can expect price to rise to our Fractal Supply Range.
The current demand range created EQL LQ which means it's possible we run through these lows, tapping into our swing demand range.
If price taps into swing demand range, I'd be happy looking for some pullback moves.
So,
We know we are at a demand orderblock.
We also know tthat we may get a pullback from that demand to retest the internal supply range as in set up 1.
-Set up 2 would be where the current demand range holds and we end up getting the retest of the fractal supply range from this orderblock, which pushes us to the sing demand range.
In order to trade setup 1, we need to see the market take out the EQL LQ
_______________________________________________________________
This means
==> FVGs
==> OBs
We have a volume gap that hasnt been mitigated and that could act as a price magnet.
Going into next week, i expect to see slight pullback into the mean threshold before moving towards the imbalance as illustrated by the tool path.
_______________________________________________________________
Daily Swing Structure = Bearish
Daily Internal Structure = Bullish
Daily Fractal Structure = Bearish
We follow the immediate structure.
The internal structure is our immediate structure.
The Fractal structure has switched bearish to facilitate the internal pullback.
We know that price moves in phases;
1. Phase 1 = Break away from the range breaking structure.
2. Phase 2 = Retest and mitigation of the previous structure.
3. Phase 3 = Continuation of the dominant trend.
The dominant trend is bullish.
What phase is price in?
At the moment, price is in phase 2 appoaching the daily demand orderblock.
We understand the objective of price, which is to hunt for liquidity. So, it is likely that we tap into the demand OB, and pullback to retest the fractal supply range.
Additionally, we've liquidated the lows, so the next DoL would be the Vol Imbalance inside our fractal supply range.
_______________________________________________________________
4hrs swing structure = Bearish
4hrs Internal Structure = Bearish
4hrs Fractal Structure = Bearish
We follow the immediate structure.
Our immediate structure is the internal structure.
What phase is price in?
=> Price is in phase 1. We broke structure to the downside. We havent gotten ChoCh to confirm phase 2.
Where is price at?
We just tapped into a 4H demand range and orderblock. From here we can expect price to rise to our Fractal Supply Range.
The current demand range created EQL LQ which means it's possible we run through these lows, tapping into our swing demand range.
If price taps into swing demand range, I'd be happy looking for some pullback moves.
So,
We know we are at a demand orderblock.
We also know tthat we may get a pullback from that demand to retest the internal supply range as in set up 1.
-Set up 2 would be where the current demand range holds and we end up getting the retest of the fractal supply range from this orderblock, which pushes us to the sing demand range.
In order to trade setup 1, we need to see the market take out the EQL LQ
_______________________________________________________________
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.