Hello Traders,
A quick out look on the EU I have identified the main swing and also some possible correction points. My expectation is for a shallow correction as we had a huge projection. The first level of structure is expected to hold. Some harmonic projections and better ratio confluence would indicate the second point identified by the rectangle but this type of correction would be deeper then expected. This will probably occur later on tonight or during London session so we will see what happens.
This my initial approach and how I start my session. I don't care about higher time frames what the daily or anything else says who care I'm not trading those time frame. News is a periods of volatility so be aware of it to adjust your stop or lock in profits. News usually follows expectations and also respects ratios so keep that in mind. There is no need to complicate your analysis with high tech probabilities. Price is going to one of these two areas and the expectation is for a correction. If the first one holds then we have a stronger probability of a NSL if the second holds the over all expectation is still a NSL however the break in structure send a message that the market intends to possible push higher and we may see a high low instead of that NSL.
If short remember to protect your trade and remove risk as needed.
I hope this help you get a glimpse of the approach.
A quick out look on the EU I have identified the main swing and also some possible correction points. My expectation is for a shallow correction as we had a huge projection. The first level of structure is expected to hold. Some harmonic projections and better ratio confluence would indicate the second point identified by the rectangle but this type of correction would be deeper then expected. This will probably occur later on tonight or during London session so we will see what happens.
This my initial approach and how I start my session. I don't care about higher time frames what the daily or anything else says who care I'm not trading those time frame. News is a periods of volatility so be aware of it to adjust your stop or lock in profits. News usually follows expectations and also respects ratios so keep that in mind. There is no need to complicate your analysis with high tech probabilities. Price is going to one of these two areas and the expectation is for a correction. If the first one holds then we have a stronger probability of a NSL if the second holds the over all expectation is still a NSL however the break in structure send a message that the market intends to possible push higher and we may see a high low instead of that NSL.
If short remember to protect your trade and remove risk as needed.
I hope this help you get a glimpse of the approach.
If you fail to plan, you plan to fail.