Looking to initiate a sell on the GU position as the price nears the current weekly high, which aligns with the NY session zone. We are currently testing this NY level, and there doesn’t seem to be a need for a price purge. Additionally, we have a breaker block combined with impulse mitigation. Let’s see how it plays out
Holding my EJ shorts, not placing too many positions, simply managing my risks and waiting for the perfect set ups. 12% Gained this month so far, 2022, I'm coming.
Short term long, seeing as we're about to approach a main liquidity zone, we can expect a BOS within bullish price, shifting us to bearish for a couple weeks.
Looking at EURJPY from the daily timeframe we can see we're creating lower highs and lower lows, alongside this we're creating range bounding zones allowing double bottoms and double tops top be created meaning we have areas of supply and demand to fall back onto (if we're wanting to take partials at a certain point.) We could also look at this as a head and...
Essentially we can see we have a long term bearish playout, right now for me this is simply short term bullish momentum to create the new Lower high, which we have now successfully done. With this being said there is many things we need to take into consideration as we're looking at higher timeframes. I'd be expecting this rising wedge to break (a rising wedge...
Range bounding- Light blue boxes are support/ wick levels on weekly.
Taking a short position from this area. Very rejected point and the RSI is Overbrought, looking for a reversal.
Price Has been bearish recently, would expect a small rise to the take profit line (I'm already mid trade) and then a strong push downwards again.