This week, EU looks very similar to GU, with potential for a short-term sell before continuing higher. Price is currently sitting near a 3hr supply zone that previously caused a BOS to the downside. If price reacts from here, we could see a bearish retracement down into the 4hr demand zone.
From there, I’ll be looking for price to accumulate and continue its bullish trend with a fresh leg to the upside.
Confluences for Sell-to-Buy Setup:
- Strong bullish trend could retrace back to demand
- 3hr supply zone above that caused a BOS to the downside
- 4hr demand zone below remains unmitigated
- DXY near a demand zone, supporting a potential pullback
- Price slowing down, showing signs of reacting to supply
P.S. If price consolidates lower and respects the 4hr demand, I’ll be looking for buys to catch the next bullish move.
From there, I’ll be looking for price to accumulate and continue its bullish trend with a fresh leg to the upside.
Confluences for Sell-to-Buy Setup:
- Strong bullish trend could retrace back to demand
- 3hr supply zone above that caused a BOS to the downside
- 4hr demand zone below remains unmitigated
- DXY near a demand zone, supporting a potential pullback
- Price slowing down, showing signs of reacting to supply
P.S. If price consolidates lower and respects the 4hr demand, I’ll be looking for buys to catch the next bullish move.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.