In this analysis of the EURUSD on the 1-hour timeframe, I'm observing how the price behaves around the 1.08500 supply zone. My intention is to confirm a potential short-term selling opportunity as a countertrend move towards the next demand zone at 1.07838. Once this short-term move plays out, I'll be looking for confirmation on a possible long position from that demand zone. It's important to note that the market operates in a fractal nature, meaning that we can only anticipate the next moves as they unfold. Therefore, we'll need to monitor the situation closely to see how it develops.
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I got an early entry for EURUSD right here, let's see how this plays out.
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My initial analysis went south. I am happy I learnt from it.
Now here, my 1.08505 zone got violated and 1.08619 zone tends to react nicely.
What do you see?
Now here, my 1.08505 zone got violated and 1.08619 zone tends to react nicely.
What do you see?
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Or maybe do this for a short term.