Times Up Eur/Usd.. Higher time frame pullback 👀
The Dollar has been unstoppable during the Summer 23'. Is the time up for this medium term trend and can we observe a Risk-on assets pullback on the Higher timeframes?
0:0 Monthly timeframe
1:25 weekly timeframe
3:30 daily timeframe
7:15 Bias for the week
9:25 4hr timeframe
The EU market this week went up as opposed to grinding down for what seems like forever. May this foreshadow a continued pullback on higher timeframes as the Daily candle closure on Friday confirms bullish market structure. We have a Weekly candle closure (first in a long time) Called out buys this entire last week because price arrived to a daily support level and extended a significant # of pips really early in the week. Whenever the market moves hard early in the week, always be suspicious of that move.. considering the majority of the week remains.. and there will likely be further volatility and movement.
The market is ruthless at the end of the day and will move in the direction of Max pain for the majority. The trick is maintaining calm/positive trading psychology while implementing a system known to have an edge. If you don't have an edge then you have some more studying to do. If you cannot repeatedly maintain a proper mental framework for approaching trading, then you have some more self-work to do.
0:0 Monthly timeframe
1:25 weekly timeframe
3:30 daily timeframe
7:15 Bias for the week
9:25 4hr timeframe
The EU market this week went up as opposed to grinding down for what seems like forever. May this foreshadow a continued pullback on higher timeframes as the Daily candle closure on Friday confirms bullish market structure. We have a Weekly candle closure (first in a long time) Called out buys this entire last week because price arrived to a daily support level and extended a significant # of pips really early in the week. Whenever the market moves hard early in the week, always be suspicious of that move.. considering the majority of the week remains.. and there will likely be further volatility and movement.
The market is ruthless at the end of the day and will move in the direction of Max pain for the majority. The trick is maintaining calm/positive trading psychology while implementing a system known to have an edge. If you don't have an edge then you have some more studying to do. If you cannot repeatedly maintain a proper mental framework for approaching trading, then you have some more self-work to do.
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