EUR/USD 1H Update - Now that our take profit has been achieved in this market from the long positions we placed Friday last week, I will now be looking to take part in the bearish leg that should follow.
Now that price has tapped into a higher TF Supply zone we can expect enough Supply to be introduced to flip the Supply & Demand balance, this should encourage price to take a move lower, breaking previous higher TF structural lows.
In order for us to get the confirmation to sell into this market we will need to be delivered with a BOS to the downside, this will tell us that the move taking us up and into this Supply zone has now finished and a new trend taking us lower into this market is underway.
Above I have drawn an illustration of what a position may look like, once price breaks structure to the downside its important we wait for price to pullback up to clear any remaining Supply before trading lower. By price pulling back into the fractal Supply zone it allows us to get involved with a refined entry and an increased RR return.
Now that price has tapped into a higher TF Supply zone we can expect enough Supply to be introduced to flip the Supply & Demand balance, this should encourage price to take a move lower, breaking previous higher TF structural lows.
In order for us to get the confirmation to sell into this market we will need to be delivered with a BOS to the downside, this will tell us that the move taking us up and into this Supply zone has now finished and a new trend taking us lower into this market is underway.
Above I have drawn an illustration of what a position may look like, once price breaks structure to the downside its important we wait for price to pullback up to clear any remaining Supply before trading lower. By price pulling back into the fractal Supply zone it allows us to get involved with a refined entry and an increased RR return.
