
Euro / U.S. Dollar forum

However, it appears that this 15m supply OB may be an inducement block for price to penetrate through later with the built up sell side liquidity, and thereafter move up to the EQH established earlier at a deeper retracement level (even to the Asian highs) before dumping down to the Asian low + HTF trendline + 4h discount zone of the macro range later.
Of course, price can also just dump now to the levels below before going up too, though with lower probability.
Let's see what happens during Frankfurt/London 🥪 🥪 🥪
tradingview.com/x/h33IelBB

What happened so far?
- We had tapped into the 4h macro range premium zone and bounced off that repeatedly over London and NY yesterday
- During Asia today, price continued its bearish trajectory down the 4h macro range and intraday internal range
- Price subsequently penetrated through the 1h demand OB through the EQLs below and the PDL and bounced near the discount zone of the intraday internal range
What should I do then?
- With price starting to bounce, it is important not to enter long blindly but to confirm through the LTF whether the move back to the upside is valid.
- I would personally wait for Frankfurt/London first to take out the newly minted Asian Low and enter the 4h macro range discount zone through the HTF trendline liquidity before considering a long entry. But that's just me.
- Alternatively, you can wait for a retracement first in the intraday leg before shorting this for a continuation down to the 4h macro range discount zone if you are impatient.
As always, make sure your risk management protocols are in place. As discussed, I anticipate that price will consider to bounce within this 4h macro range in the lead up to NFP.
Breadspeed traders 🥪 🥪 🥪
tradingview.com/x/iDDGxzcs

