USD Long position, entry on the 15/5 minut chart. Liquidity absorption earlier done by EUR with the spike down and rejection, breaking multiple lows. BOS followed with upward momentum, pulling back where entry is executed for a second wave to previous imbalance/FVG on the 1H timeframe. Simple.
Macro analysis; Taking a look at the most recent price action, we can see 3 times where the price spiked above 129.40 and closed below. After price firmly touched the liquidity band in 129.60/80 to the tea, the price fell down, creating a new lower low below the daily key line. The next candle up doesn't show much volume which might indicate a loss of steam. Money...
Description:
Macro analysis; Price closed below the liquidity band and the daily key level. Possible down momentum to 1.19600 level where the next liquidity band resides. Bearish engulfing candle taking out 12 hours of trading previously and on the shorter note bearish engulfing candle, taking out 4 wicks of trading. Also closed below the 4H key level.
HTF...
