Wave structure of gold in 4h time framePrice is currently in a strong supply zone in the 4h time frame. If the price falls and surpasses the first CHOCH position, gold will continue to fall again.
If gold continues to rise and breaks the Swinghigh creating a BOS signal, a strong Swinglow bottom will be created.
Smctrading
EurUsd intraday sell setupAfter a rapid expansion to the up side . It's time for a retracement on the 4hr time frame in preparation for another expansion.
I was able to catch a sell at the turning point and now the market has presented another entry Opportunity on the same setup. We sell to 1hr sellside liquidity, after sellside has been raided we will look for lower TF confirmation for a buy
USDJPYWas waiting for the next opportunity after getting stopped out from the last trade. There might be the end of the uptrend for UJ for now. I've placed my trade on last Monday, and there's so many big news on USD these few days.
As there weren't any hiking in rates, it's time to fill up the imbalances below.
Let's share idea's based on UJ, do drop down a comment on why you bought it and why do you sell UJ.
NOTE: I'm not a financial advisor
EURJPY: Important Bullish Breakout & New High 🇪🇺🇯🇵
EURJPY is trading in a long-term bullish trend.
The price formed a huge ascending triangle formation on a daily,
perfectly respecting 159.8 - 160.0 resistance.
Yesterday, the pair formed an imbalance bullish candle
and successfully closed above the neckline of the pattern,
setting a new higher high higher close.
It will most likely push the prices to the new highs.
Next resistance - 162.5
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EUR/USD APPEARS BULLISHWith the DXY temporarily bearish to facilitate a pullback on its 4H leg of price we can expect EUR/USD to be moving bullish Aswell as they are negatively correlated. We need to be vigilant and aware of the fact that supply zones lie ahead meaning that we will be open to sells as we approach those zones. The supply zones may end up causing 4H BoS or further bearish structure to merely mitigate extreme demand zone.
DXY BULLISH The DXY bullish but currently moving bearish as a 4H break of structure occurred to the upside meaning a corrective pullback needs to occur to mitigate a demand zones below. This means for the time being on lower time frames we will be moving bearish, as a result currencies correlated to the DXY will be moving bullish as currencies are negatively correlated to the DXY index.