DislikedOn the EURUSD, things are not looking good, there is nothing we can do according to the rules... We need some IF scenarios in order to trade the EURUSD on H4. H4 SHORT: I would short on the H4 purple supply zone (purple because it's not valid supply yet) IF last week low (red beads and hozizontal line) are broken The trendline would be broken, but we are not in a higher timeframe D1 supply, so we'd not be allowed to short. We need those IF conditionsH4 LONGS: We would need to break higher and wait for brand new H4 FRESH demand areas We would be...Ignored
I'm new to this thread and haven't quite made my way fully through all of your videos yet (they are pretty awesome by the way). Hopefully the answer to this question isn't painfully obvious from previous posts in the thread that I haven't arrived at yet!
I was just looking at the chart you posted before for the EURUSD and would like to see what you think about the validity of the supply area I've shaded in (the 20 pip one). I think it's valid because the price did not linger very long at the level and moved aggressively downwards after leaving it.
The reason I ask is because (and I'm entirely open to the possibility or probability that I'm quite wrong) I feel that if that level is valid, I should be short on the EURUSD right now from the point at 1.33241. I also think that the fact that the weekly SD curve is presently sitting at around 74% (and would've been higher at the point of entry) supports the trade. You did say in that post that we shouldn't be short just yet because of the support gained from last week's low, however - does that mean you consider the EURUSD on the H4 chart to be in an uptrend at the present time?
If you could shed some light on this for me I would be very much appreciative!
- Mike
Understanding yourself is synonymous with understanding the markets.