EURUSD, Bullish Reversal
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Good morning ladies & gents,
After a period of accumulation, it is highly likely that EURUSD will start a bullish cycle up, this analysis is supported by a multitude of reasons.
1) After a period of accumulation, it's often that we see an inducement out of one side. This is the "Manipulation" phase, whereby they move price to simultaneously neutralise buy-side liquidity & induce sell-side liquidity, allowing the market makers to build in heavy long positions.
2) This area is sat below the 61.8% fib rejection we saw last week, meaning where price is at is an area of sell-side liquidity.
3) The Orderflow on the Monthly - Weekly - Daily are all Bullish.
4) Price has pulled back to the last D1 Bullish Orderblock responsible for dynamic PA.
5) Seasonal Tendencies & Commitment of Traders Data report frames the macro-economic outlook on the Fibre, both of which indicates an appreciation in the Fibre in the next few weeks.
All of this, leads me to the conclusion that NFP will drive EURUSD up to take out the monthly highs where the next big level of Buy-Side Liquidity Lies. I anticipate it trading up to 1.24000 which is a level where commerce is often conducted.
Macro-economic synthesised with Micro-technical levels is what frames high probability setups that we execute on with precision.
Let's see how price delivers & let's see how "random" this market really is.
Disclaimer: This is not trading advice, this is merely my idea. All speculations can incur losses. Don't invest more than you're willing to lose. You're trading @ your own risk should you act upon this idea. If so, I'd personally employ no more than 3% risk maximum of the total account size.
After a period of accumulation, it is highly likely that EURUSD will start a bullish cycle up, this analysis is supported by a multitude of reasons.
1) After a period of accumulation, it's often that we see an inducement out of one side. This is the "Manipulation" phase, whereby they move price to simultaneously neutralise buy-side liquidity & induce sell-side liquidity, allowing the market makers to build in heavy long positions.
2) This area is sat below the 61.8% fib rejection we saw last week, meaning where price is at is an area of sell-side liquidity.
3) The Orderflow on the Monthly - Weekly - Daily are all Bullish.
4) Price has pulled back to the last D1 Bullish Orderblock responsible for dynamic PA.
5) Seasonal Tendencies & Commitment of Traders Data report frames the macro-economic outlook on the Fibre, both of which indicates an appreciation in the Fibre in the next few weeks.
All of this, leads me to the conclusion that NFP will drive EURUSD up to take out the monthly highs where the next big level of Buy-Side Liquidity Lies. I anticipate it trading up to 1.24000 which is a level where commerce is often conducted.
Macro-economic synthesised with Micro-technical levels is what frames high probability setups that we execute on with precision.
Let's see how price delivers & let's see how "random" this market really is.
Disclaimer: This is not trading advice, this is merely my idea. All speculations can incur losses. Don't invest more than you're willing to lose. You're trading @ your own risk should you act upon this idea. If so, I'd personally employ no more than 3% risk maximum of the total account size.
Nota
Moving nicely. Opportunity for another entry to stack the longs. See my most recent post.Nota
Majority of the trade was closed after price hit TP on the continuation idea as price clearly repriced lower after hitting a high volume area.
Penafian
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