Pure Price Action Top Down Analysis of EURUSD
2023 saw EU create a bullish opening range in H1, and H2 2023 opened only to raid stop orders from early trading that year before expanding to the upside. This PA created a bullish range which was retraced to the demand zone left in the wake of that previous expansion in April 2024, leaving behind what I suppose should be the low of the year.
The Fiber has since continued bullish but appears to be stalling now in order to gather further internal bullish liquidity (SSL) to garner enough momentum for the move towards the BSL from 2022. Anticipation here is to capitalize on the bullish continuation towards the liquidity above the current dealing range but we are also aware of internal levels price might bounce from before that reversal happens. As EU approaches the nearest demand, we anticipate it could find support there for a retracement of the recent selloff experienced which potentially can be a decent opportunity to go long momentarily.
Ultimately, the lower demand zone below the SSL(1.071) is where we expect to see major longs come in.
Feel free to leave comments, reviews and criticisms, we look forward to building a very strong community of price action wizards with you all.
GLGT,
LloydFx
The Fiber has since continued bullish but appears to be stalling now in order to gather further internal bullish liquidity (SSL) to garner enough momentum for the move towards the BSL from 2022. Anticipation here is to capitalize on the bullish continuation towards the liquidity above the current dealing range but we are also aware of internal levels price might bounce from before that reversal happens. As EU approaches the nearest demand, we anticipate it could find support there for a retracement of the recent selloff experienced which potentially can be a decent opportunity to go long momentarily.
Ultimately, the lower demand zone below the SSL(1.071) is where we expect to see major longs come in.
Feel free to leave comments, reviews and criticisms, we look forward to building a very strong community of price action wizards with you all.
GLGT,
LloydFx
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