EUR/USD 4H - Looking at this pair we can see how price as of current looks to be putting in a lower timeframe correction in preparation of taking its next leg higher. With that being said we can look to potentially buy into this market from one of two Demand zones that I have highlighted out for you all.
We predicted the initial break of structure to the upside on this market a few weeks/months ago but price failed to tap into the first Demand zone that we had highlighted meaning we missed our opportunity to get involved in those buy positions initially.
Now we are given a second chance and it looks as though price could tap into either or. As always we will want to see price penetrate into one of these zones and deliver us with good signs of rejection to the upside, from there we can expect price to break structure fractally confirming the end of the correction and the start of the next leg higher.
Our entry will come from the pullback that follows after the initial break of structure, allowing us to get involved in a refined entry on this market, we can place our SL below one of two Demand zone depending on which one we get confirmation from and our TP can be set just below the Supply zone that is highlighted way higher on this chart.
We predicted the initial break of structure to the upside on this market a few weeks/months ago but price failed to tap into the first Demand zone that we had highlighted meaning we missed our opportunity to get involved in those buy positions initially.
Now we are given a second chance and it looks as though price could tap into either or. As always we will want to see price penetrate into one of these zones and deliver us with good signs of rejection to the upside, from there we can expect price to break structure fractally confirming the end of the correction and the start of the next leg higher.
Our entry will come from the pullback that follows after the initial break of structure, allowing us to get involved in a refined entry on this market, we can place our SL below one of two Demand zone depending on which one we get confirmation from and our TP can be set just below the Supply zone that is highlighted way higher on this chart.
