Bullish Bias on EUR/USD: 4-Hour CHoCHEUR/USD has experienced a change in character on the 4-hour timeframe, indicating a potential pullback down for further continuation up, suggesting a shift in bias to the upside. The price has recently exhibited a bullish sentiment, and traders may now be looking for buying opportunities in anticipation of an upward move.
On the 4-hour chart, the market has shown signs of strength, with higher highs and higher lows forming, suggesting a potential uptrend. The recent change in character, which indicates a potential pullback down, could be seen as a buying opportunity for traders looking to capitalize on the bullish momentum.
Traders may be watching for a pullback or a retest of a key support level or potential buys once the market changes character in the smaller timeframe at the 50-78% retracement zone of this newfound swing to the upside. on the 4-hour timeframe. This could be a potential entry point for a long position, with a stop-loss order placed below the recent swing low to manage risk. The target for this trade could be towards the previous swing high or a resistance level, indicating a potential upward move.
It is important to consider other factors such as market conditions, news events, and overall trend direction to confirm the bullish bias. Traders should also use proper risk management techniques, such as setting appropriate stop-loss levels and managing position size, to protect against potential losses.
As always, monitoring the price action and being flexible with the trading plan is essential. Traders should be prepared for potential market reversals or unexpected price movements and adjust their strategies accordingly.
In summary, the 4-hour timeframe on EUR/USD has exhibited a change in character, indicating a potential pullback down for further continuation up, suggesting a bullish bias. Traders may be looking for buying opportunities, with proper risk management in place, in anticipation of an upward move. Monitoring the price action and considering other market factors can help traders make informed trading decisions
Yesterday's sells;
Today anticipation move;
Possible play for today and tomorrow before the news;
Wave pattern for this trend;
