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$EURUSD - Drop into Tuesday for Low Reversal -Smart Money TheoryI haven't done one of these in a while so here are my thoughts. As we're still bullish long term with foreign (Euro) currency and Tuesday tends to be the day of the high or low, I'm gonn call the low. As you see there's a Turtle Soup the has sellers trapped below a certain area hoping for a return so they can get out of their trade. But the breaker sitting on top of it (which also is the 70.5% retracement of this particular Fractal of the price would be a great opportunity for the institutions to buy nd keep the sellers trapped. As for the News, it's all EUR all night giving the advantage to the algorithm to run the sell side liquidity into the breaker. I would hope it hits the breker just t new york open or close (probblu close) while it led the rest od the wy up Wednesday and Thursday. If I was the Algorithm, this is what I would do to take out retail traders. Just saying ----- Good Luck and Good Trading ;) FOREXCOM:EURUSD
by BodiesXWix
GBOUSD CONTINUATION DOWNWARDSWhats up guys, back with another idea. Dont forget to leave a like and if you wanna stay updated with my ideas go ahead and follow the page! We are getting better everyday. Now, on with the idea: So, we see that pre NY session, the pound was stuck in a consolidation zone. We can take from that, price is getting ready for a major play. WE can see the tall wicks at the tops of certain candles, telling us sellers are pushing down. Pair that with the fact that we are making lower highs in the process. We can conclude we are forming a down trend and we can proceed to see a drop to the lower supports i have marked. the green dashed lines being targets and the blue being a major level. Remember to use price action, risk management and be patient. Play the game, dont rush it. Trade Smart, Trade Precise. Lets get it snipers
Short
by fastboiijd