Hey Guys!
Last week, we got what we expected with excellent price delivery; however, the way the week ended tells me that it's more likely that we're going to get a deep sweep of those monthly highs; likely up into the 1.23000 before the larger correction.
Note that this doeesn't have to happen - if price drops down to 1.20300, I would be surprised as OUR MAIN BIAS IS DOWNISDE. That means regardless of if this goes up one more time, structure is still pointing down.
If we're going to see upside, Mon or Tues will create the low of the week and we can look for longs. If it just starts moving up beginning week, it'll like reverse on Wed/Thurs to the downside.
Stick to your plan, wait for lower timeframe confirmations and ride it. Just remember, the bigger wave is to the downside according to structure
Last week, we got what we expected with excellent price delivery; however, the way the week ended tells me that it's more likely that we're going to get a deep sweep of those monthly highs; likely up into the 1.23000 before the larger correction.
Note that this doeesn't have to happen - if price drops down to 1.20300, I would be surprised as OUR MAIN BIAS IS DOWNISDE. That means regardless of if this goes up one more time, structure is still pointing down.
If we're going to see upside, Mon or Tues will create the low of the week and we can look for longs. If it just starts moving up beginning week, it'll like reverse on Wed/Thurs to the downside.
Stick to your plan, wait for lower timeframe confirmations and ride it. Just remember, the bigger wave is to the downside according to structure
