EU counter-trend trade

24 Sep 2022

Overall trend is bearish on W, D, 4HR. We have a 75% chance of creating a lower high so I'm looking to see a LH creation just below the top of my inside bar, that is also an area of resistance. In the meantime, this can also be counter trend traded before we get that LH formation, if I'm entering in a long position I will be looking for BOS on 15 min. TF and then a re-test of the Gann box on 5 min. TF if we don't get any candle closure below my Gann box and a solid wick rejection I will enter in for a long position and TP will be set for previous Asia session high which is just below where that area of resistance is, and of course we must accept risk with any trade and take complete responsibility, this trade can of course break below the Gann box and the trade could become invalidated. On another note, the Feds are talking about 100 BPS already, so I also don't see the dollar losing its strength anytime soon, meaning more downside for EU.