Hey Traders,
So taking a quick look at EURUSD I'm keeping an eye out on a retracement, at this point I have no clue what the market will do, since we are bearish on the HTF and bullish on LTF, but like always, I keep my views objective and identify the main levels of support and resistance and see where the market is more likely to pause, reverse or continue.
For EURUSD, we did break a major level of resistance on the LTF, signaling bullish momentum especially after making new lower lows. I can see all the way to my left a previous level of support where price may reverse at coming back down to support which gives us an opportunity to get long till the next resistance level.
So for now, I sit on my hands and just wait. BTW when the market does come down, I won't enter aggressively, I will be looking for a conservative entry.
Like always if you have any questions feel free to comment below
So taking a quick look at EURUSD I'm keeping an eye out on a retracement, at this point I have no clue what the market will do, since we are bearish on the HTF and bullish on LTF, but like always, I keep my views objective and identify the main levels of support and resistance and see where the market is more likely to pause, reverse or continue.
For EURUSD, we did break a major level of resistance on the LTF, signaling bullish momentum especially after making new lower lows. I can see all the way to my left a previous level of support where price may reverse at coming back down to support which gives us an opportunity to get long till the next resistance level.
So for now, I sit on my hands and just wait. BTW when the market does come down, I won't enter aggressively, I will be looking for a conservative entry.
Like always if you have any questions feel free to comment below