Euro / U.S. DollarShort
EURUSD 20Aug24
3 scenarios... In all three we are Selling to BUY...
red line is less likely because of structure but it's safe to consider your TP there.
Purple path is more likely in the sense that if we are to continue bullish, leaving behind the original 1hr LQD, we still need to respect that 1hr internal liquidity before pushing up. In this case we still need to consider re-acc could happen on it's way down so we may not see price coming as low as 1.09825
Green path is what I believe is tthe most likely to happen depending on how DXY performs between Monday and Wednesday... We could see price going all the way down to at least 1.09480 to grab the liquidity it left behind last week before rallying up ot create more HIGHS... bear in mind, we are Bullish on 4h and 1hr
red line is less likely because of structure but it's safe to consider your TP there.
Purple path is more likely in the sense that if we are to continue bullish, leaving behind the original 1hr LQD, we still need to respect that 1hr internal liquidity before pushing up. In this case we still need to consider re-acc could happen on it's way down so we may not see price coming as low as 1.09825
Green path is what I believe is tthe most likely to happen depending on how DXY performs between Monday and Wednesday... We could see price going all the way down to at least 1.09480 to grab the liquidity it left behind last week before rallying up ot create more HIGHS... bear in mind, we are Bullish on 4h and 1hr
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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.