Previous long trade on this pair has been closed out at breakeven as prices did not confirm my view of the market. With prices held by the daily demand, more stops have been added to the low of prices the past week. As such, potential stop hunting by institutions might occur and a daily demand below current prices have been identified for longs to be taken.
Trending lower on the monthly and weekly time frames, a daily supply has been identified for shorts to be taken. Furthermore, stops have been hunted potentially at the 0.9000 level, resulting in a clearer path downwards for shorts to be taken.
Prices having been in a range on the weekly time frame, finally broke the range and entered monthly supply. Having taken out the stops at the weekly range and trading at a price pivot, a daily demand long has been taken and partial profits will be taken at the 1.37 level.
With prices rallying into weekly supply and losing momentum on the H4 time frame, a down trend has been formed. Potential supplies have been identified for shorts in line with the H4 trend
With prices entering fresh daily demand, potential H1 demand zones have been identified for intraday longs
Prices rallying into fresh daily supply and losing momentum on the H1 time frame. This results in a couple of H1 supplies where a short might be taken
Having rallied into monthly supply, a potential loss of momentum on the D1 time frame has been identified. Cleaning up the zones, 2 level on level H1 supply zones have been identified for shorts to be taken. Note: This is a riskier trade as the loss of momentum has not been confirmed
With prices entering monthly supply and losing momentum on the daily time frame, a potential short at the daily supply has been identified
A daily demand zone has been identified which is embedded within the weekly and monthly demand zones. Potential long trades can be taken
With the removal of the daily demand, a new daily supply is formed and a short can be taken on a lower time frame such as the H4. This trade idea is further supported by the fact that we are high up on the monthly curve.
Prices having been rejected at the Monthly supply and the current trade idea revolves shorting at the daily supply, potential lower time frame (H4) shorts have been identified should prices fail to return to the D1 supply. However, heavy trading in the H4 supply closest to current prices may have orders fully taken up by the market, so current expectation is that...
A slightly riskier long trade has been identified with a loss of momentum and quality demand created on the H4 time frame. A 2nd long opportunity can be taken, should prices fail at the 1st H4 demand, at H1 demands embedded within the Daily demand
The trade idea on the 260318 was to look for a loss in momentum on the H4 time frame and then enter short. The idea materialized and shorts can be taken at the H4 supply zones
Being in a sideways market on the weekly, and prices having arrived deeper on the weekly demand, only long trades are allowed. On the H4 time frame, a loss of momentum has been observed and potential longs can be taken at the H4 demand
Prices high up on the curve, sideways market on the D1 time frame. Potential shorts have been identified should prices rally to the H4 supplies
With an uptrending market in the monthly, weekly and daily time frame, a potential long with huge profit potential has been identified on the H4 time frame
Losing momentum on the H1 time frame after prices entered fresh daily demand, some potential areas to get long have been identified, with higher probability zones taken closer to where prices broke the momentum trend line
We are in a sideways market for the weekly and daily time frame. As such, with prices rallying into fresh weekly supply and losing momentum on the H4 time frame, a potential short adhering to CFM rules has been identified with a very good risk reward ratio