EURUSD short term Longs to 1.06650
SCENARIO 1- My current bias for EURUSD is that it will currently react off the (9hr) demand zone, which we will expect for price to accumulate in order for us to enter buys up to 1.06650. From were the (6hr) supply zone is located, we will then expect price to slow down and distribute for potential sells all the way back down to 13hr demand zone. Or possibly even lower as there's loads of liquidity lying around those POI's that I have marked out.
My confluences for the buys are as follows:
- Price tapped in a 9hr demand zone that caused a BOS to the upside.
- Market is currently retracing due to the impulsive move up that happened during the past couple days.
- Imbalances are left from when price pushed down today that it needs to comeback and fill.
- There's lots of magnets that attract price in the bullish directions i.e untouched Asia highs and trend line liquidity.
- Price is creating higher highs and higher lows and has shown this via a change of character on the 4hr as well as a break of structure on the 4hr to confirm the shift in trend.
- In addition for price to continue going down in a bearish trend overall I would be expecting for price to mitigate the 6hr supply zone above in order to continue going down.
P.S. For now I would be expecting wyckoff accumulation to play out in the lower timeframes to give us a indication of were we can find a sniper entry in order to maximise our risk to reward ratio.
My confluences for the buys are as follows:
- Price tapped in a 9hr demand zone that caused a BOS to the upside.
- Market is currently retracing due to the impulsive move up that happened during the past couple days.
- Imbalances are left from when price pushed down today that it needs to comeback and fill.
- There's lots of magnets that attract price in the bullish directions i.e untouched Asia highs and trend line liquidity.
- Price is creating higher highs and higher lows and has shown this via a change of character on the 4hr as well as a break of structure on the 4hr to confirm the shift in trend.
- In addition for price to continue going down in a bearish trend overall I would be expecting for price to mitigate the 6hr supply zone above in order to continue going down.
P.S. For now I would be expecting wyckoff accumulation to play out in the lower timeframes to give us a indication of were we can find a sniper entry in order to maximise our risk to reward ratio.
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