EURUSD Analysis 24/01/2024
ที่อัปเดต:
New day, new update.
Looking at structures on 1) Daily 2) 4 hour 3) M15 4) M15 Internal
Daily:
Daily trend still bearish.
Looking closer at the internal (4 hour price chain) we can see price is mitigating 4 hour demand, and still bullish.
If the daily pro trend is going to continue its bearish direction - then the 4 hour trend needs to change bearish at some point.
4 Hour
4 hour trend is still clearly bearish, with Lower High's and Lower Low's being formed.
There is a refined 4 hour zone identified within the larger Daily zone.
Looking at the red arrow, we see price reacting off demand that is not visible (significant) on the 4hr timeframe, so I expect this retracement to be minor and price to reach the significant 4hr zone eventually.
Longs are not applicable yet.
M15
Trend is bearish. Breaks of structure to the down side.
Price is NOT reacting off significant demand. Supply is still in control.
M15 Internal
Price is pulling back, and not from a reaction from a significant demand zone. Expecting this pullback to be short lived.
Trade plan: Waiting to see where the Asia session range forms. Where is the Asia liquidity sitting relative to the identified supply zones.
Entry model: Asia session liquidity swept, supply zone mitigated, bearish change of character on 5 min with a fair value gap. Entry on the zone which created the gap and change of character. (conformation entry)
A risk entry is possible with a limit on the supply zone considering that price is reacting off insignificant demand therefore supply is still in control. There is however a supply zone that is unmitigated further up which brings on risk, perhaps risk entry with smaller account risk.
Looking at structures on 1) Daily 2) 4 hour 3) M15 4) M15 Internal
Daily:
Daily trend still bearish.
Looking closer at the internal (4 hour price chain) we can see price is mitigating 4 hour demand, and still bullish.
If the daily pro trend is going to continue its bearish direction - then the 4 hour trend needs to change bearish at some point.
4 Hour
4 hour trend is still clearly bearish, with Lower High's and Lower Low's being formed.
There is a refined 4 hour zone identified within the larger Daily zone.
Looking at the red arrow, we see price reacting off demand that is not visible (significant) on the 4hr timeframe, so I expect this retracement to be minor and price to reach the significant 4hr zone eventually.
Longs are not applicable yet.
M15
Trend is bearish. Breaks of structure to the down side.
Price is NOT reacting off significant demand. Supply is still in control.
M15 Internal
Price is pulling back, and not from a reaction from a significant demand zone. Expecting this pullback to be short lived.
Trade plan: Waiting to see where the Asia session range forms. Where is the Asia liquidity sitting relative to the identified supply zones.
Entry model: Asia session liquidity swept, supply zone mitigated, bearish change of character on 5 min with a fair value gap. Entry on the zone which created the gap and change of character. (conformation entry)
A risk entry is possible with a limit on the supply zone considering that price is reacting off insignificant demand therefore supply is still in control. There is however a supply zone that is unmitigated further up which brings on risk, perhaps risk entry with smaller account risk.
บันทึกช่วยจำ
There was no entry confirm. Price did not print change of character when reacting to the zone, it pushed through to reach deeper supply zones. 4hr supply is coming up.
บันทึกช่วยจำ
The importance of waiting for confirmation. The internal demand chain never shifted bearish with a Change of Character after reacting off deep M15 Supply.
Lets see what tomorrow brings. Do we shift bullish on the M15 to take out the 4Hr weak highs? Or is this an attempt to liquidate sellers before moving the distance down to the Daily Weak Lows.
24 January Closed.
*using the publishing tool as a method to track myself. Not trying to influence or educate anyone out there.*
Blessings.
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