This week, with Euros to the U.S. dollar, we’ve seen price pull back to the highest area highlighted in last week’s markup. It took out the liquidity high we placed below it while also mitigating some of our longer-term points of liquidity.
We’ve now identified several points of liquidity lower down, one being at the base of the last upward move. This move originated from the area we highlighted as a potential zone for bullish price action. Despite the significant upward movement, our higher time frame bias maintains a bearish narrative, indicating that money is still flowing out of this market, pushing prices lower.
As shown on the chart with the indicator applied, we are now on the 4-hour timeframe. A "money-out" area has been formed, and we are watching for price action to follow this trend, targeting the liquid lows we have marked. This setup points to a sell opportunity at the start of this market session, with the expectation that price will continue to move bearish throughout the week.
Stick to your risk and follow your trading plan.
We’ve now identified several points of liquidity lower down, one being at the base of the last upward move. This move originated from the area we highlighted as a potential zone for bullish price action. Despite the significant upward movement, our higher time frame bias maintains a bearish narrative, indicating that money is still flowing out of this market, pushing prices lower.
As shown on the chart with the indicator applied, we are now on the 4-hour timeframe. A "money-out" area has been formed, and we are watching for price action to follow this trend, targeting the liquid lows we have marked. This setup points to a sell opportunity at the start of this market session, with the expectation that price will continue to move bearish throughout the week.
Stick to your risk and follow your trading plan.
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Learn the Orion Trading System with the link below.
🚀 Store: tinyurl.com/PSS-store
🤝 Discord: discord.gg/pip-surfing-society-809908301923745813
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Our FREE trading community & FREE YouTube content!
Learn the Orion Trading System with the link below.
🚀 Store: tinyurl.com/PSS-store
🤝 Discord: discord.gg/pip-surfing-society-809908301923745813
Learn the Orion Trading System with the link below.
🚀 Store: tinyurl.com/PSS-store
🤝 Discord: discord.gg/pip-surfing-society-809908301923745813
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.