NEXT LEG LOWER BEFORE HIKE UP
EUR/USD 1H - As you can see price has taken the next leg lower as of around 6am this morning, unfortunately I was not at the charts at this time of the morning so missed the entry for this trade.
A regular occurrence as of recent but nothing can be done as I am not one to set pending orders unless I already have entry confirmation, with this we hadn't had it. I would to see price pullback in order for us to get involved.
I believe price will continue to trade us lower now down and into the Demand Zone below, this is fine as we can just prepare and look to get onboard of the next hike that sees this market trade us higher.
Once we see price trade us down and into the Demand Zone this is when we want to see price break structure to the upside and for us to see price start to respect areas of Demand giving us the confirmation of an S&D flip.
A regular occurrence as of recent but nothing can be done as I am not one to set pending orders unless I already have entry confirmation, with this we hadn't had it. I would to see price pullback in order for us to get involved.
I believe price will continue to trade us lower now down and into the Demand Zone below, this is fine as we can just prepare and look to get onboard of the next hike that sees this market trade us higher.
Once we see price trade us down and into the Demand Zone this is when we want to see price break structure to the upside and for us to see price start to respect areas of Demand giving us the confirmation of an S&D flip.
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