Yesterday's idea worked perfectly, hitting the take-profit target at 1.04925, as expected. As I mentioned, a pullback to the upside occurred after reaching that area. For today's trade, the daily timeframe bias remains bearish, with a target towards 1.04748. This makes it clear that today's position is a sell. Looking at the market structure, the NYPM session...
On the 5-minute timeframe, we can see a Market Structure Shift (MSS) around 1.05126, and the imbalance (iFVG) at 1.05171 has already been filled. While the weekly timeframe bias remains bullish, targeting 1.05952, this is a quick short-term move, so it won’t take much time. That’s why I call it "SHORT before LONG." My target is at 1.04925, as there’s a high...