LOOKING TO TAKE THE EUR/USD MARKET SHORT
EUR/USD 1D - As you can see we are looking at this market with a higher timeframe scope to predict future price movement. I believe we will see this market correct itself up and into the area of Supply before taking a move lower.
I would love to see price correct now, which it is showing good signs of doing creating a doji looking candle here on the 1D timeframes, this will give us the opportunity to buy in before we short.
As for the short position, we want to see price trade up and into the area of Supply and distribute fractally. This will give us the ability to get involved in this market with a more refined entry.
Once we see price trade into the area we want the distribution to take place which will deliver us with a BOS to the downside which is the confirmation needed to get involved, we could also look to place a pending order as well.
I would love to see price correct now, which it is showing good signs of doing creating a doji looking candle here on the 1D timeframes, this will give us the opportunity to buy in before we short.
As for the short position, we want to see price trade up and into the area of Supply and distribute fractally. This will give us the ability to get involved in this market with a more refined entry.
Once we see price trade into the area we want the distribution to take place which will deliver us with a BOS to the downside which is the confirmation needed to get involved, we could also look to place a pending order as well.
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