Hi Traders,
This is a pair on my radar. It just formed a buy-side liquidity pool that needs to be swept. This is one pattern I have noticed in the market for a long time. In this case, I expect it to play out for a few reasons I will list out.
1. On the monthly timeframe, we dumped into a key level now a retracement in at play
2. On the weekly timeframe, we have a weekly Fair Value Gap (FVG) to fill as marked on my chart
3. On the daily timeframe, the price created equal highs as I have marked on my chart which is just below the weekly FVG
4. This last point is for people that trade chart patterns, we are to expect an inverse head and shoulders to play out
The above reasons drive me to speculate about this rally.
I don't know when the rally may happen but watch out for it.
If you have any comments about my analysis or forex in general, let me know.
Enjoy
David
This is a pair on my radar. It just formed a buy-side liquidity pool that needs to be swept. This is one pattern I have noticed in the market for a long time. In this case, I expect it to play out for a few reasons I will list out.
1. On the monthly timeframe, we dumped into a key level now a retracement in at play
2. On the weekly timeframe, we have a weekly Fair Value Gap (FVG) to fill as marked on my chart
3. On the daily timeframe, the price created equal highs as I have marked on my chart which is just below the weekly FVG
4. This last point is for people that trade chart patterns, we are to expect an inverse head and shoulders to play out
The above reasons drive me to speculate about this rally.
I don't know when the rally may happen but watch out for it.
If you have any comments about my analysis or forex in general, let me know.
Enjoy
David
Ghi chú
This pair has played into my target zone. Now I will be waiting for CHOCH and my setup for a trade long. I don't expect this to happen this week. So watchout for my posts next week.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.