Euro Analysis
업데이트됨
Looking back, if you notice the significant short-term 4H level denoted in the blue line. Price had failed to close below this level consistently over the course of many 4H candles printing. This had been a nice level of support for me, however, once the little 4H candle did close below that was confirmation to me of short-term bearishness. It doesn't mean we're breaking down completely but that we could expect a move to the downside, after seeing the price break the massive manipulation impulse (I failed to see) it found heavy rejection on this BREAKER, many new traders want a Fibonacci retracement and miss the move. (I fell victim to this too lol if you check my third to last post) from here seeing a significant bearish closure beyond the daily level and intraday support was enough for me to go short and look for some form of sell-side liquidity.
We met a 4H low around a big figure level and created a long 4H wick in the London session. Keep in mind we're currently TESTING a significant daily level, and this is technically an oversold position. You could've entered long near the bottom of the range if you we're quick-witted. (Homework is to find this other entry)
Then I quickly blended my understanding of ICT, Traditional price action, etc... to find this potential head and shoulders pattern that aligned with the 1H OB that was formed during this displacement.
Once we broke structure to the upside I was confident in my head and shoulders and long entry, low-hanging fruit. My target was above the high and here's why.
Technically we had closed below a significant 4H level and potentially have bearish energy to move lower, however, obviously we are in an overwhelmingly bullish trend. So I compromised and took a long position to the 4H level, had it breached this level, I had confirmation to go long again.
The goal of trading is to take out the duality, I saw the potential for price to move either way so I traded in a range that was onesided and could fulfill my profit objectives until confirmation I could get in again or to reverse bias again.
If you see the Breaker level denoted is actually a significant level on the 4H as well and is nicely respected by the 4H candles, these levels can be sensitive to all sides of the marketplace, and understanding these concepts will take your trading far further then you ever could've imagined. This was enough confirmation for me in truth to go long, but I want to be absolutely certain, the price then went broke and retested the 4H level towards the end of the 4H candle closure. This was confirmation we're going to break the level and continue long. Thank you for listening
We met a 4H low around a big figure level and created a long 4H wick in the London session. Keep in mind we're currently TESTING a significant daily level, and this is technically an oversold position. You could've entered long near the bottom of the range if you we're quick-witted. (Homework is to find this other entry)
Then I quickly blended my understanding of ICT, Traditional price action, etc... to find this potential head and shoulders pattern that aligned with the 1H OB that was formed during this displacement.
Once we broke structure to the upside I was confident in my head and shoulders and long entry, low-hanging fruit. My target was above the high and here's why.
Technically we had closed below a significant 4H level and potentially have bearish energy to move lower, however, obviously we are in an overwhelmingly bullish trend. So I compromised and took a long position to the 4H level, had it breached this level, I had confirmation to go long again.
The goal of trading is to take out the duality, I saw the potential for price to move either way so I traded in a range that was onesided and could fulfill my profit objectives until confirmation I could get in again or to reverse bias again.
If you see the Breaker level denoted is actually a significant level on the 4H as well and is nicely respected by the 4H candles, these levels can be sensitive to all sides of the marketplace, and understanding these concepts will take your trading far further then you ever could've imagined. This was enough confirmation for me in truth to go long, but I want to be absolutely certain, the price then went broke and retested the 4H level towards the end of the 4H candle closure. This was confirmation we're going to break the level and continue long. Thank you for listening
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Sorry I am new to posting I don't realize how small it looks in the actual idea form
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