EUR/USD 1H - Again with this market we are looking at a very similar setup, I would like to see price trade us up and into the Supply Zone I have marked out above for us, this giving us a refined area to look to go short from.
As always we would need the confirmation that the S&D balance has flipped and that price is going to put in a bearish leg from this area we have marked out, this type of confirmation will come via the BOS that should take place in or around the Supply Zone.
Once price trades us up and into this area this is when we can start to look for those entries, and the entry criteria being met, this market has been correcting for some time now on the higher timeframes but it looks as though price could be looking to take its next leg lower.
If you were to look at this market on the 4H and higher you will see that this pair has been correcting bullish at the moment but is trading us bearish longer term.
As always we would need the confirmation that the S&D balance has flipped and that price is going to put in a bearish leg from this area we have marked out, this type of confirmation will come via the BOS that should take place in or around the Supply Zone.
Once price trades us up and into this area this is when we can start to look for those entries, and the entry criteria being met, this market has been correcting for some time now on the higher timeframes but it looks as though price could be looking to take its next leg lower.
If you were to look at this market on the 4H and higher you will see that this pair has been correcting bullish at the moment but is trading us bearish longer term.