In yesterdays publishing you can observe that our short term target was at 1.0938. Some buyers are taking profit as we have reached this minor zone 1Hr level. The bullish 4hr candle closed above 1.0918 which has been our Fakeout sell side entry area. This is bullish technically speaking. Looking at market structure it looks great. So we had a fakeout market strcutre display, but now look where the 4hr candle closed. EU being tricky. In larger context, I don't like buys as much at these prices. I like retests of 1.0867 to end the week off with NFP tomorrow. Price is consolidating near the Daily/Weekly highs and playing games. If we go Long, I like Bulls respecting 1.0918 , possibly wicking back down again to 1.089 and then rocket to mars at 1.103, Weekly timeframe wick fill.
Trading : Fortunately, I did trade and anticipate sells off this level after news was released this morning. Price wicked up violently triggering my buy stop. In profit for two seconds then hit SL. Only half risk here. Consequently, I took sells after we whipped back down and created a low to go fill in momentum. I scaled in with full size effectively and picked up 7.3 pips in 6 minutes. I took one more sell for +2 pips with higher risk which worked out well. Took 1 more trade with half risk and closed for small loss. Called the day there.
Trading : Fortunately, I did trade and anticipate sells off this level after news was released this morning. Price wicked up violently triggering my buy stop. In profit for two seconds then hit SL. Only half risk here. Consequently, I took sells after we whipped back down and created a low to go fill in momentum. I scaled in with full size effectively and picked up 7.3 pips in 6 minutes. I took one more sell for +2 pips with higher risk which worked out well. Took 1 more trade with half risk and closed for small loss. Called the day there.
Commento:
Price retested 1.089 with NFP as anticipated. We'll see how london close looks. I see some buyers stepping in as we come to a close on the week. I would've liked NFP volatility to take us below 1.089
Commento:
We have got our Weekly Target reached at 1.0867 but it was on our next weekly candle. We first needed a top wick on the new weekly candle so we puled back to retest 1.0918 one last time before descending into the abyss below. We rejected higher timeframes here and respected our extreme prices at 1.092 -1.093. We have been talking about these prices, alongside .0918 for some time now.
