My analysis for EU is similar to GU. Currently, the price is very close to a 3-hour demand zone where I will be looking for buying opportunities. Once the price enters this zone, I will wait for distribution before targeting the nearest supply zone for a potential sell.
When the price reaches that supply zone, I will consider entering sells, as there's a similar setup in GU from last week's NFP. However, my ultimate target is the extreme supply zone at the 10-hour level.
Confluences for EU Buys:
- The price has created a clean demand zone that caused a change of character (CHOCH).
- In the short-term trend, there's substantial liquidity to the upside for price to take.
- This setup aligns with the DXY (Dollar Index).
- Price has filled in an imbalance as well.
Note: I am more inclined to take these buys since the demand has caused a CHOCH on the higher time frame. Have a great trading week, and don't forget about the upcoming CPI data!
When the price reaches that supply zone, I will consider entering sells, as there's a similar setup in GU from last week's NFP. However, my ultimate target is the extreme supply zone at the 10-hour level.
Confluences for EU Buys:
- The price has created a clean demand zone that caused a change of character (CHOCH).
- In the short-term trend, there's substantial liquidity to the upside for price to take.
- This setup aligns with the DXY (Dollar Index).
- Price has filled in an imbalance as well.
Note: I am more inclined to take these buys since the demand has caused a CHOCH on the higher time frame. Have a great trading week, and don't forget about the upcoming CPI data!
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