EU Bearish Outlook
Okay so looking at EU from Monthly using PD Arrays it showed long term bearish tone in the market. Scaling down to Lower TF with Higher TF Institutional Order Flow 1h showing me a great setup. I'm expecting price to take out the liquidity above Equal Highs & falling short from the 1H Order Block (1.17020) which is supported by 4H OB.
Stop loss above the previous swing before Order Block which is just 18 pips with a reward of 90 pips. Making the trade a 1:5 risk to reward.
Note : Dxy(1H TF) shows higher high in the NY today & took out the liquidity below Equal Lows. Where EU fails to make a Higher High & showed failure swing. Which confirms underlying strength on currency.
Disclaimer : I'm still learning. I'm not a financial advisor or anything else.
Stop loss above the previous swing before Order Block which is just 18 pips with a reward of 90 pips. Making the trade a 1:5 risk to reward.
Note : Dxy(1H TF) shows higher high in the NY today & took out the liquidity below Equal Lows. Where EU fails to make a Higher High & showed failure swing. Which confirms underlying strength on currency.
Disclaimer : I'm still learning. I'm not a financial advisor or anything else.
Penafian
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