Fundamentals:
CPI 7.7, better than expectations
DXY falls
US dollar weakens
Non-U.S. Currencies go up
*Technical :
Price has reached previous HTF supply zone
also accumulated liquidity before
If there is a clear reversal signal inside the red block (can be found in LTF)
Could be bear engulfing, downside trend...
Consider placing short
However, with the recent sharp weakening of the U.S. dollar, and just broke through downside resistance line in HTF
RR isn't that much
It is safer to wait for a clear signal to appear before entering
Entry TP SL are given on chart
More conservative, can manually close order at TP1
All are just personal opinion, not investment advice!
CPI 7.7, better than expectations
DXY falls
US dollar weakens
Non-U.S. Currencies go up
*Technical :
Price has reached previous HTF supply zone
also accumulated liquidity before
If there is a clear reversal signal inside the red block (can be found in LTF)
Could be bear engulfing, downside trend...
Consider placing short
However, with the recent sharp weakening of the U.S. dollar, and just broke through downside resistance line in HTF
RR isn't that much
It is safer to wait for a clear signal to appear before entering
Entry TP SL are given on chart
More conservative, can manually close order at TP1
All are just personal opinion, not investment advice!