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Momentum Setup // Pre-newsWe have a wicks to fill. One is at 1.06174. The Other wick is the Previous weekly candle low at 1.06120. We have momentum so most likely we will touch these prices at some point. We are trading 2 hours before news here. Ultimate target on week on 1.055. Additionally, I think FOMC will help provide a catalyst to take us lower. We may pullback hard first, for liquidity. So be aware of price spikes as we walk into news. Momentum , with regard to Price Action, is explained in the previous post. If we look at Weekly/Daily timeframes we see all red or what we interpret as rejection wicks, which aligns with our bias.
Short
by ShrewdCatfx
1
Dollar Bulls. A Flop from Friday NY Session. 🤔Volume is coming into the market. Players were eager to return to the arena after the bank holiday. Market structure was bearish walking into week. Not surprised . The top wick of last weekly candle was 108 pips. That's bearish momentum in a nutshell. then you draw up lines on smaller timframes and use technical anlaysis to look for a good RR entry on 4hr/1hr minor zones. There is a high probability that price will drop off a cliff here, and into the abyss below. The 4hr timeframe is pushing us bearish. We failed to close above the 1.06650 4hr zone on the 4hr Timframe and consequently left a very large top wick ( 37 pips) which i interpret as rejection of higher prices. We'll see what happens here. 1.06130 is last weekly candle low price. that is first target. second target being 1.055
Short
by ShrewdCatfx
1
Bearish Look on EURUSD until end of WeekBearish Funadamental Background : CPI helped price to pullback and breathe and now we have returned to the lows. Momentum: Bear Candle from Last week with solid body Technicals 1) Large Top wick rejection on weekly candle after printing Bear Candle last week 2) Was anticipating Bears to show up this week AFTER a potential pullback .. Which we did get a pullback to 1.07900 3) Price just pierced last week's low , Monday's Low, and Wednesday's Low 4) Price respected 1.07100 as anticipated across the duration of current daily candle 5) Range to fill to downside down to 1.5500
Short
by ShrewdCatfx
2
EURUSD Analysis + Recent Volatility EXPLAINED (Description) I have a Bearish Bias on this Pair. Trading Structure and momentum on this Channel. Check first Chart in Description to See what I'm looking at. Also, Included in the Description are two charts from Days Feb 1st ( Interest Rated Decision) and Feb 7th ( Fed Powell Speech ) These Charts , when compared and contrasted , are not much different. Actually they are quite the same. After news create initial volatility, Price is corrected nearly to the same price in which it begun shortly after, it may take 1-2 trading sessions or it could take only 1-2 hours. All relative.
Short
by ShrewdCatfx
EURUSD Potential Forecast | Wednesday 1st February 2023Trade Idea 1. Currently on EURUSD, there is a lot of sell side liquidity present as I have marked out via the blue zone 2. Price just broke the weekly low and created a lower low 3. Price is in a bearish trend forming lower lows and lower highs 4. I believe price can potentially come down to clear the sell side liquidity 5. Especially this week with FOMC and NFP coming, there will be a lot of whipsaws and volatility in the market 6. Will be especially risk averse and wait for full confluences before entering onto trades THIS TRADE WILL BE INVALID AFTER TODAY IN LIGHT OF THE HEAVY NEWS. Trade safe guys! Regards, Chern Yu
Short
by Jon_Jones_Junior
1
EURUSD Potential Forecast | Friday 27th January 2023Hi everyone, today I will be talking about a possible EURUSD short trade using Smart Money Concepts. Trade idea 1. Price has swept buy side liquidity above on the weekly 2. Price then had a strong bearish reaction which broke sub-structure 3. Price is currently on a retracement 4. Lower blue zone has been marked out as a potential point of interest to look for short set ups 5. Will wait for confirmations such as a break of structure and sweep of liquidity on LTF Things to take note of: 1. There is fundamental news PCE price release tonight at 930 pm SGT. Do trade safely for those taking the same trade. Trade safe guys! Regards, Chern Yu
Short
by Jon_Jones_Junior
2