
Euro / U.S. Dollar forum

What happened so far:
- During NY, we have seen price sustained and closed past the PDL, showing heavy bearish presence
- In a last ditch attempt, bulls pushed price up at the Daily FVG CE and the 1h demand order block confluence region to commence a retracement up (see my earlier post as discussed)
Probability of what may happen next:
- Bearing in mind that bears have clearly dominated over NY, the latest 15m internal range would most likely be the final one before the actual confirmation of a bearish reversal past the 1h range (watch for candle close), especially so with the new PDL right at the bottom of this range
- Unless price springs a surprise internal shift of structure to the upside in this internal range, there's no reason for price to fly up further
- An optimal entry short would be at the premium zone of this internal range, which is confluent with the daily pivot
Having said that, we are in volatile markets and price can do whatever it wants. As traders you need to be adaptable and adjust your setups accordingly.
I'll see you at London. Breadspeed 🥪 🥪 🥪
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