EURUSD Good day traders. Welcome to yet another brand new trading marathon.What dafug happened?
- During NY, we have penetrated forcefully through Tuesday's PDL and taken 1.15.
- We have touched the Daily FVG.
- During Asia, we have taken Wednesday's PDL (albeit weak) and attempted to rally.
What dafug should I do?
- While it might be tempting to consider this as a potential reversal back to the upside, note that the liquidation of Wednesday's PDL was weak AF and what was resultant from it was a EQL clearly left behind with the Asian rally.
- Price is anticipated to generated more sell side liquidity through this, tap into any of the interim supply OB above and potentially further liquidate the EQL as mentioned to get down deeper into the Daily FVG, through the other intraday EQLs floating below.
- The possible true reversal point for a retracement would then be at Daily FVG CE.
As always, manage your risk properly, don't be FOMO, and don't be fooled by the market.
May the loaves be with you 🍞🍞🍞
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