EURUSD has moved a bit higher yesterday. It was Wednesday so the the day after CFTC report. The day when the bank cartels move the market the most because they want hide as much as possible what they are up to. From the last report we could see that they massively reduced their short positions (profit taking) and that they starting accumulation the longs.
So the price dropped from the daily and Tuesday it was sitting on the level. Now when its moving up its probably because they closed even more shorts and added some more longs, but they did it on the Wednesday so this move will not be included in the CFTC report this Friday. Anyway me and all of you who follows me for some time, we know what is going on.
We have bought the EURUSD on the 1.1122 yesterday with buy limit and the orders was filled overnight.
Now I think we will still see the retest of 1.12299 So you can enter now with small position and on the re-test of this level to the full position size. But always calculate your risk first. And always,you must know how much you will loose if the trades goes wrong.
Stop loss I put bellow the order block where the banks did their trading and below the whole number 1.119 that could protect us from stop hunt.
Check the last report.
Do you see the reduce of the shorts and rise in longs? As well look how the longs are above the 13 weeks average and shorts bellow 13 weeks average.
Look as well a bit in the past how much they been
and how are they now.
All this indications gives me strong reason to think banks are bulls.
So I wanna go long as well.
On the weekly chart we are seeing the break of the downtrend too. The level is now retested. So the best time to buy.
On the monthly we had this nicecandle = big signs of bullishness too
Fundamentally the Euro zone is not in the best conditions, but the Dollar is not doing any better as well yesterday the IMF said that the dollar is over valuated and Trump wants the USD weaker too.
Technically even if the dollar will be strong. I expect the banks to visit this liquidity zone first, to buy it for the best price.
Price dropped to retest the H4 Trend line. Adding one more position with same stop loss