This is how I see EUR/USD .
After the Fake out at daily it formed a new Supply in H4, after this the market pushed to the down side.
I want to see a rejection move up to the next (maybe a little bit higher) and if i see there confirmation for the down side i will enter a short.
- overall down trend
- strong supply zones above
- Fake out to the up side
- Head&Shoulders is forming
After I saw rejection at 1.11310 I closed one position with 20 pips and let the other run with stop loss at break even which was hit.
The market goes to the higher supply and there was a possible short re-entry but I didn't took it.
Now it looks like the market continue going down to the demand zone.