High Time Frame Position Trading
1️⃣ PA kissed the DZ @ 1.0205 and pierced below the 23.6% fib
2️⃣ Based on the HTF 15W, PA has NOT opened/closed below Demand, and it created a DT formation before it retraced up
3️⃣ Support has become Resistance @ 1.1215
4️⃣ Support @ 0.9450 may cause another UT Retracement; however, I'm anticipating it won't hold so I'm calling it minor
5️⃣ Since leaving the SZ @ 1.6038, PA has not returned to the CIC @ 0.8625 (15W) — FXCM Chart
🔥 If the above is true, we are still in a 📉 BIG PICTURE DT 📉
🖥 January 3rd could be the catalyst of a long term DT for EURUSD to 0.8625
🔑
CIC = CANDLESTICK IN CHARGE
DT = DOWNTREND
DZ = DEMAND ZONE
FIB = FIBONACCI
HTF = HIGH TIME FRAME
PA = PRICE ACTION
SZ = SUPPLY ZONE
1️⃣ PA kissed the DZ @ 1.0205 and pierced below the 23.6% fib
2️⃣ Based on the HTF 15W, PA has NOT opened/closed below Demand, and it created a DT formation before it retraced up
3️⃣ Support has become Resistance @ 1.1215
4️⃣ Support @ 0.9450 may cause another UT Retracement; however, I'm anticipating it won't hold so I'm calling it minor
5️⃣ Since leaving the SZ @ 1.6038, PA has not returned to the CIC @ 0.8625 (15W) — FXCM Chart
🔥 If the above is true, we are still in a 📉 BIG PICTURE DT 📉
🖥 January 3rd could be the catalyst of a long term DT for EURUSD to 0.8625
🔑
CIC = CANDLESTICK IN CHARGE
DT = DOWNTREND
DZ = DEMAND ZONE
FIB = FIBONACCI
HTF = HIGH TIME FRAME
PA = PRICE ACTION
SZ = SUPPLY ZONE
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Curve Analysis: Exploiting the Uptrend Rebound Potential
1. 📉 Downtrend Context: The 1W timeframe paints a clear downtrend picture. However, this analysis focuses on a short-term buying opportunity amidst this more significant trend.
2. 📈 Support Bounce: Price action has demonstrably reacted to the critical support level at 1.0800, suggesting a temporary upward correction potential.
3. 📈 Retracement Pattern: We've identified a bullish retracement pattern emerging from the 1.0800 support. This pattern aligns with our anticipation of this level acting as a strong base for Support traders.
4. 📈 BLO Execution: Capitalizing on our conviction, we strategically placed a Buy Limit Order (BLO) at 1.0800, which was successfully triggered, and as of now, the current net equity gain stands at +33 pips (+0.36%).
5. 💰 Strategic Targets: Our Take Profit (TP) is strategically set for 1.1005, just below the key resistance level of 1.1008. If you risk going long, this exit price offers a favorable risk-reward ratio with a potential +205 pips (+1.90%) profit from our BLO that triggered.
6. 🚫 Risk Management Strategy: To safeguard our profits and manage potential downside risk, we've implemented a manual TSL at 1.0826. This level aligns with a POC on the price chart, indicating historical price acceptance, and provides a buffer against any sudden reversals. This strategically secures our profitability while allowing for more upside capture.
7. ⚠️ Counter-Trend Trade: We acknowledge the counter-trend nature of this trade, which is suitable for experienced traders with a risk management framework in place.
7. 👀 Market Dynamics: Closely monitoring price action around the 1.1008 resistance is crucial. A clean break—opening/closing above—could signify further upside potential, while a rejection might necessitate a sign that Price Action is returning to the downtrend.
8. ⚠️ Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Conduct your due diligence and trade responsibly.
1. 📉 Downtrend Context: The 1W timeframe paints a clear downtrend picture. However, this analysis focuses on a short-term buying opportunity amidst this more significant trend.
2. 📈 Support Bounce: Price action has demonstrably reacted to the critical support level at 1.0800, suggesting a temporary upward correction potential.
3. 📈 Retracement Pattern: We've identified a bullish retracement pattern emerging from the 1.0800 support. This pattern aligns with our anticipation of this level acting as a strong base for Support traders.
4. 📈 BLO Execution: Capitalizing on our conviction, we strategically placed a Buy Limit Order (BLO) at 1.0800, which was successfully triggered, and as of now, the current net equity gain stands at +33 pips (+0.36%).
5. 💰 Strategic Targets: Our Take Profit (TP) is strategically set for 1.1005, just below the key resistance level of 1.1008. If you risk going long, this exit price offers a favorable risk-reward ratio with a potential +205 pips (+1.90%) profit from our BLO that triggered.
6. 🚫 Risk Management Strategy: To safeguard our profits and manage potential downside risk, we've implemented a manual TSL at 1.0826. This level aligns with a POC on the price chart, indicating historical price acceptance, and provides a buffer against any sudden reversals. This strategically secures our profitability while allowing for more upside capture.
7. ⚠️ Counter-Trend Trade: We acknowledge the counter-trend nature of this trade, which is suitable for experienced traders with a risk management framework in place.
7. 👀 Market Dynamics: Closely monitoring price action around the 1.1008 resistance is crucial. A clean break—opening/closing above—could signify further upside potential, while a rejection might necessitate a sign that Price Action is returning to the downtrend.
8. ⚠️ Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Conduct your due diligence and trade responsibly.
Professor C. E. Ward
