EURUSD - Expecting Bearish Week
Updated
LINKS RELATED TO THIS PAIR (OTHER TIMEFRAMES)
(Use these pictures as reference for the description below)
Monthly Perspective: https://www.tradingview.com/x/oJpTQumP/
Weekly Perspective: https://www.tradingview.com/x/rJUxDJqk/
Daily Perspective: https://www.tradingview.com/x/N2uz4vIu/
H2 Perspective: https://www.tradingview.com/x/OPkxEme1/
ANALYSIS:
Monthly:
(check the picture above)
Price is trading through a Bullish Candle whilst being in a strong downtrend. This proves that Sellers are in control as buyers don't have enough volume to sustain bullish prices. Therefore, this candle will likely hold as a structure if price closes below it in 17 days.
Also, previous Monthly candle's wick low is "Previous Month Low", meaning It's an excellent Liquidity level for price to run to this current month.
And these Equal Lows are amazing for price to run to.
So Liquidity-wise, we have a Previous Month Low + Equal Lows. Can't get any better than that :)
Weekly:
As you can see on the Weekly, we have a Strong Downtrend. We want to follow it. "The trend is your friend" lol.
All imbalances above have been rebalanced. We have no Buy-Side Liquidity at all.
Check the Weekly FVG that price has just tested. See the reaction. We completely filled it WITHOUT closing above the FVG. That tells us that the FVG is being respected, and usually, price moves away from it when this happens.
At the same time we have a 3-Bar Swing High. That's another great indication that the next weekly candle should be Bearish to take out the previous week's Low.
And if that happens - where will price be? At the equal Lows (which is the ultimate target for this analysis).
At the Equal Lows target, I'm expecting price to run to and through these levels to Liquidate the resting orders there.
Daily:
The horizontal on the left annotated with an "x", was a high. The high had liquidity. Price ran to and through that high taking liquidity (bearish indication), before running into the Bearish OB above.
Price tested and reacted beautifully from the Orderblock. This Orderblock should keep pushing price lower.
H2:
Beautiful Distribution happened in the reaction of the OB.
Also, we have a Market Maker Sell Model (marked up with the grey boxes) for another confluence for Shorts.
Additional confluence:
I'm Bullish on the USD (DXY). If the DXY goes up should EURUSD go down.
https://www.tradingview.com/x/tS8gSbWA/
Summary:
As I expect the next Weekly candle to be Bearish, I will have a Bearish perspective for price this upcoming week. I will look for Shorts entries on Lower timeframes.
This is my view on EU. Do your own research before taking any trades.
(Use these pictures as reference for the description below)
Monthly Perspective: https://www.tradingview.com/x/oJpTQumP/
Weekly Perspective: https://www.tradingview.com/x/rJUxDJqk/
Daily Perspective: https://www.tradingview.com/x/N2uz4vIu/
H2 Perspective: https://www.tradingview.com/x/OPkxEme1/
ANALYSIS:
Monthly:
(check the picture above)
Price is trading through a Bullish Candle whilst being in a strong downtrend. This proves that Sellers are in control as buyers don't have enough volume to sustain bullish prices. Therefore, this candle will likely hold as a structure if price closes below it in 17 days.
Also, previous Monthly candle's wick low is "Previous Month Low", meaning It's an excellent Liquidity level for price to run to this current month.
And these Equal Lows are amazing for price to run to.
So Liquidity-wise, we have a Previous Month Low + Equal Lows. Can't get any better than that :)
Weekly:
As you can see on the Weekly, we have a Strong Downtrend. We want to follow it. "The trend is your friend" lol.
All imbalances above have been rebalanced. We have no Buy-Side Liquidity at all.
Check the Weekly FVG that price has just tested. See the reaction. We completely filled it WITHOUT closing above the FVG. That tells us that the FVG is being respected, and usually, price moves away from it when this happens.
At the same time we have a 3-Bar Swing High. That's another great indication that the next weekly candle should be Bearish to take out the previous week's Low.
And if that happens - where will price be? At the equal Lows (which is the ultimate target for this analysis).
At the Equal Lows target, I'm expecting price to run to and through these levels to Liquidate the resting orders there.
Daily:
The horizontal on the left annotated with an "x", was a high. The high had liquidity. Price ran to and through that high taking liquidity (bearish indication), before running into the Bearish OB above.
Price tested and reacted beautifully from the Orderblock. This Orderblock should keep pushing price lower.
H2:
Beautiful Distribution happened in the reaction of the OB.
Also, we have a Market Maker Sell Model (marked up with the grey boxes) for another confluence for Shorts.
Additional confluence:
I'm Bullish on the USD (DXY). If the DXY goes up should EURUSD go down.
https://www.tradingview.com/x/tS8gSbWA/
Summary:
As I expect the next Weekly candle to be Bearish, I will have a Bearish perspective for price this upcoming week. I will look for Shorts entries on Lower timeframes.
This is my view on EU. Do your own research before taking any trades.
Note
Update:DXY target reached !
Note
UPDATE: Target Reached! (kind of)
I anticipated a Bearish Week (so a Bearish Weekly Candle). We did get that indeed. Also, you can see that my arrow on the chart anticipated a little run up before going down (the run up was to fill the H4 FVG and then run lower).
I got in on a trade on Tuesday which was a perfect entry on the M5 Timeframe that's currently running in 11 R. It was a refined entry from the H4 FVG.
I sent out the signal + entry proof on my Instagram. I'm currently still holding the trade risk-free.
Whats next?
We have not yet gone all the way down to the Equal Lows. Im anticipating another Bearish week to run towards to these lows.
I wish everyone a fantastic trading week!
Trade closed: target reached
B O O M ! Hope you capitalized :)
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